Ruble Hits 13-Month Low on Falling Oil Prices

Jan 11, 2016 — 17:21
Jan 11, 2016 — 17:21

The Russian ruble fell to its lowest level against the dollar and euro since December 2014 on Monday amid a drop in oil prices and falling stocks, the Interfax news agency reported.

On Monday morning the Russian ruble fell to 76 against the U.S. dollar and 83 against the euro.

The drop comes amid the continuing decline in the global prices for oil, Russia's major export. As of Monday morning, the price of Brent crude oil dropped to $32.52 per barrel, down 12 percent since the start of the year, the TASS news agency reported.

The ruble started to recover its losses following a slight increase in oil prices later that day. The Russian currency was trading at 75.33 against the U.S. dollar and 81.93 against the euro on Monday afternoon.

Since the beginning of 2014, the Russian currency has lost half of its value against the U.S. dollar.

Russia Celebrates Defender of the Fatherland Day

Russians around the country celebrate the Defender of the Fatherland Day national holiday Feb. 23.

see more

Moscow Restaurants: News and Openings

From a restaurant with a view on the 52nd floor to cheap pan-Asian food on the outskirts, here's our latest selection of new ...

Leaping for the Stars

Photographer Philippe Halsman is perhaps best known for his 'Jump' ...

Moscow Restaurants: News and Openings

From a restaurant with a view on the 52nd floor to cheap pan-Asian food on the outskirts, here's ...