Russian Ruble Plunges as Oil Prices Hit Five-Year Low | News | The Moscow Times

Russian Ruble Plunges as Oil Prices Hit Five-Year Low | News | The Moscow Times:



"The ruble fell more than 4 percent on Tuesday in thin, volatile holiday trading as oil prices hit a new 5-1/2-year low.



By 1:03 p.m., the ruble was down 4.5 percent against the dollar at 63.55 rubles and 3.9 percent weaker against the euro at 75.52.



Commentators said weak oil prices, which slumped yet again on expectations of a supply glut, would continue to weigh heavily on the Russian currency, making it extra vulnerable to sharp moves in thin trade."



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