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in Business

Russian ruble dropped to December 2014 low as oil prices decline

by Nataly 18.01.2016, 9:46 am 113 Views

On Monday, Russian currency exceeded 79 rubles per dollar for the first time since December 2014

The Russian ruble exchange rate against US dollar on the Moscow Stock Exchange during Monday’s session lost 1.58 rubles compared to the previous closing. Thus, dollar amounted to 79.18 rubles per dollar, surpassing the mark of 79 rubles for the first time since December 2014. The euro jumped 1.61 rubles up to 86.29 rubles per dollar, Joinfo.ua reports with reference to TASS.

The ruble continues to decline due to the oil prices drop to $28 per barrel on Monday. “The situation on the oil market is still unfavorable, the pressure on prices increased after the announcement of the lifting of international sanctions on Iran,” – explains Anton Startsev, the leading analyst of Olma Investment Group.