The Russian ruble fell to 77 against the U.S. dollar on Tuesday for the first time since December 2014 as global prices for oil continue to slide, the RIA Novosti news agency reported.
As of Tuesday morning, the Russian currency had slipped to 77.01 against the U.S. dollar and 83.80 against the euro, according to the data from the Moscow Exchange.
The official exchange rates set by Russia's Central Bank on Monday stand at 75.95 rubles against the U.S. dollar, the lowest level since the financial collapse of 1998, according to the RBC newspaper. The official ruble exchange rate against the European currency stands at 82.8.
The weakening of the ruble comes amid the continuing decline in the global prices for oil.
February futures for Brent crude are currently trading at $30.6 per barrel, according to RIA Novosti.
The ruble has lost more than 50 percent of its value against the dollar since 2014.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
![paiment methods](https://static.themoscowtimes.com/img/contribute/payment_icons.png)
Remind me later.