Russia's currency, the ruble, on Friday dropped for the eighth straight day to reach its lowest level since April 2009 as it tracked the falling price of crude oil — a key source of revenue for the country.
The ruble fell 1.4 percent to 33.9 rubles against the U.S. dollar in early trading on the MICEX exchange. It lost 2.2 percent on Thursday and over 6 percent this week.
The currency's fate is closely linked to the price of a crude oil contract called the Urals blend, a benchmark for the oil Russia exports. The price of Urals blend has fallen than 5 percent this week and was down another 0.4 percent at $99.4 on Friday. (more)
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