Ruble, Oil Prices Fall Amid Trump Election Victory

Nov. 9, 2016

Both Russian ruble and oil prices have started to fall on the heels of Republican billionaire Donald Trump's victory in the U.S. presidential election, Russian media reported Wednesday.

The ruble has fallen to 64 against the U.S. dollar and is predicted to reach 67 per dollar due to plummeting oil prices, the RBC news website reported.

Brent oil prices have reached the lowest point in the past three months, dropping 2.24 percent to $45.01 per barrel as of 9 a.m. Wednesday, the report said.

Trump's victory will have a far bigger impact on Russia's financial markets than political turmoil in June, when Britain voted to leave the European Union, said Vladimir Evstifeyev, head of the analytical department of the Zenit bank. The fall is unlikely to last more than two weeks, he told RBC.

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