The Russian ruble, which has been hitting fresh six-month lows recently, is likely to weaken further as oil prices are seen falling, Economy Minister Alexey Ulyukayev said Thursday.
"If oil prices continue to decline, which I think is highly likely, then the ruble decline will go on," Interfax news agency quoted Mr. Ulyukayev as saying.
Battered by a slump in Brent crude prices below $47 per barrel, the ruble hit its lowest level since February of 67.57 on Thursday. As of 1323 GMT, the dollar was 0.8% higher at 67.12 rubles on the Moscow exchange.
Earlier this week, Mr. Ulyukayev said he didn't expect oil prices to go lower.
original source: http://www.nasdaq.com/article/russia-economy-minister-ruble-is-likely-to-weaken-further-20150820-00543#ixzz3jO4gQL7A