The fall in the Russian rouble has accelerated amid a new decline in the price of the country’s oil exports.
The currency was down more than 4% in afternoon trading in Moscow, at around 66 roubles per dollar. The rouble hit a record low of 80 per dollar in mid-December before a slight recovery, but has been falling steadily since the start of the year.
The sale of oil is Russia’s main revenue earner, so the months-long slump in energy markets has weighed on the country’s economic outlook and markets. The price of Brent crude has plunged from 115 dollars a barrel in June to around $47.
The Russian rouble has fallen further under continuing pressure from low oil prices.
The currency was down nearly 3% in morning trading in Moscow, floating around 65 roubles per dollar.
The Russian rouble is edging further down amid a continuing slump in oil prices.
The currency was down about 2% in morning trading in Moscow, floating around 62.8 roubles per dollar.
The rouble has been plunging under a combined blow of slumping oil prices and Western sanctions over Ukraine. Last year, it was the world’s worst performing currency along with the Ukrainian hryvnia.
