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Russia: Ruble continues to plummet against US dollar02:19

Russia: Ruble continues to plummet against US dollar

Russian Federation, Moscow
January 21, 2016 at 15:47 GMT +00:00 · Published

The Russian ruble continued to plunge against the US dollar for a second day, Thursday. Muscovites talked about their concerns as the currency continues to reach new record lows, falling to 82 against the dollar and 91 against the euro.

On Wednesday, the Russian currency plummeted to its lowest point since the financial crisis in 1998 as falling oil prices continue to put pressure on the ruble. Prices per barrel have fallen below Russia's 13-year-minimum to just $27,36 (25,29 eur), and could go as far down as $16-18.

Surpassing the dramatic December 2014 slump, the ruble has lost around 12 percent of its value against the dollar. This means the country could enter a second year of recession despite the predictions of officials. The head of Russia's Central Bank Elvira Nabiullina said that ruble is close to fundamental level and the fall is no visible threat to the economy.

Russia: Ruble continues to plummet against US dollar02:19
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Description

The Russian ruble continued to plunge against the US dollar for a second day, Thursday. Muscovites talked about their concerns as the currency continues to reach new record lows, falling to 82 against the dollar and 91 against the euro.

On Wednesday, the Russian currency plummeted to its lowest point since the financial crisis in 1998 as falling oil prices continue to put pressure on the ruble. Prices per barrel have fallen below Russia's 13-year-minimum to just $27,36 (25,29 eur), and could go as far down as $16-18.

Surpassing the dramatic December 2014 slump, the ruble has lost around 12 percent of its value against the dollar. This means the country could enter a second year of recession despite the predictions of officials. The head of Russia's Central Bank Elvira Nabiullina said that ruble is close to fundamental level and the fall is no visible threat to the economy.

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