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Currency News

Russian Ruble At 1-year Low Against U.S. Dollar

The Russian Ruble plunged against the U.S. dollar for the third consecutive day on Wednesday, as oil prices were hammered over persistent worries about slowing demand and high supplies.

Data from the American Petroleum Institute showed late Tuesday that crude supplies may have risen almost 3 million barrels in the week ended December 25.

The Russian Ruble slipped to 73.2306 against the greenback, its lowest since December 15, 2014, when it hit a record low. This was a 2.5 percent decline from yesterday's closing value of 71.4125. The ruble is likely to find downside target around the 76.00 zone.

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