The Russian ruble fell today, touching the record low level versus the US dollar, as Russia’s economy suffers from the impact of sanctions and declining oil prices.
The United States and the European Union imposed sanctions of Russia due to its supposed involvement in the Ukrainian conflict. This coincided with the big drop of prices for crude oil. As a result, the Russian economy is on the brink of recession. And it makes the ruble very unattractive for traders.
USD/RUB rose from 53.8579 to 53.8722 as of 10::26 GMT today, reaching the record high of 54.9040 intraday.
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