Russia’s Ruble Follows Crude Oil in Decline
The Russian ruble slid today against the US dollar as crude oil prices declined after US inventories advanced more than was predicted by specialists.
US stockpiles of crude climbed by 9.0 million barrels to 362.4 million last week. The expected increase was 2.1 million. Moreover, riskier assets were under pressure after US services industry expanded slower than was anticipated and Mario Draghi, the President of the European Central Bank, talked about downside risks for the European economy.
USD/RUB rose from 29.2460 to 29.4470 as of 15:59 GMT today.
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Earlier News About the Russian Ruble:
- Russian Ruble Falls as Eurozone GDP Spurs Risk Aversion (2012-03-06)
- Ruble Decline After Bank Rossii Keeps Rates Unchanged (2012-02-03)
- Ruble Slows Rally vs. Dollar as Bank Rossii Sells Currency (2012-01-27)
- Ruble Drops with Oil, Bank Rossii Eases Control Over Currency (2011-12-29)
- Bank Rossii Lowers Main Interest Rate as Inflation Slows (2011-12-23)