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15 Dec 2014
USD/RUB jumps more than 10%
FXStreet (Córdoba) - The russian currency, the ruble, dropped more than 10% against the US dollar on Monday having the worst day since 1998.
Sell-off continues
USD/RUB started the week trading around 58.50 but then started to rally and peaked at 67.20, fresh record high before pulling back toward 65.50.
The decline in crude oil price accelerated the slide during the last weeks but the speed has created concerns about the future of the russian economy, adding pressure to the ruble. Since November USD/RUB has risen 50%.
Sell-off continues
USD/RUB started the week trading around 58.50 but then started to rally and peaked at 67.20, fresh record high before pulling back toward 65.50.
The decline in crude oil price accelerated the slide during the last weeks but the speed has created concerns about the future of the russian economy, adding pressure to the ruble. Since November USD/RUB has risen 50%.