Hit hard by plunging oil prices and international sanctions, the Russian ruble slid Thursday to new lows of just over 46 to the dollar and 58 to the euro — part of its biggest weekly plunge since 2009.
The dollar rose to 46.77 rubles from 44.95, while the euro reached 58.11 rubles.
The ruble has lost about a quarter of its value so far this year, despite several interventions on the currency market by the Russian Central Bank. Some analysts, saying the ruble is still overvalued, are predicting a further decline of 10 percent into next year.
The ruble’s decline coincides with a …read more
Source: Voice of America
