Ruble falls near all-time low, past key 80 level against the US dollar


AFP

MOSCOW — The ruble fell close to a historic low on Wednesday, as the U.S. dollar climbed past the psychological threshold of 80 rubles for the first time since the shock plunge of the Russian currency in December 2014. After a day of relative calm, the ruble continued on a downward spiral, falling to 80.01 against the dollar, just eight kopecks away from the historic low of December 2014, as oil prices, key to Russia’s economy, were testing 12-year lows. The ruble also fell against the euro, to 87.67 rubles per euro, also its lowest level since December 2014, as Asian and European markets suffered another rout. “The market will be generally driven by global economic sentiment, which does not exactly look hopeful at the moment,” Alfa Bank said in a note to clients on Wednesday.