Oil Prices

Ruble falls to 82 against US dollar, 90 against Euro

The Russian ruble hit new historic low, the Russian ruble traded over 82 to the US dollar and around 90 to the euro, according to the Moscow Exchange.

MOSCOW (Sputnik) — The Russian ruble traded over 82 to the US dollar and around 90 to the euro in Moscow as of 08.34 pm on Wednesday, down by around five percent, for the first time since December 2014, according to data provided by the Moscow Exchange.

The fall, which has already been dubbed as the “Black Wednesday” plunge, reflects the continuing slide in global oil prices that seriously hurt the oil-dependent Russian economy.

On Wednesday, Brent oil futures with supply in March 2016 fell 2.99 percent to $27.9 per barrel on the London’s ICE on expectations that Iran’s return on oil markets after the lifting of Western sanctions on Tehran will worsen the current oil glut even further.
By Sputnik