Post by Logan on Jan 21, 2016 10:59:22 GMT -6
MOSCOW, Jan. 21 (UPI) -- The value of the Russian ruble fell again Thursday, declining 5.3 percent in a day as Russia's most valuable export, oil, fell to $30 per barrel.
The ruble traded Thursday at 85.999 to the dollar, crossing the psychological threshold of 80 per dollar on Wednesday.
For most of the first decade of the 21st century, the ruble held steady at between 30 and 35 to the dollar. The currency, which has lost 9 percent of its value since the start of 2016, fell as the price of oil declined to levels not seen since 2003.
The country's economy has also been hit hard by economic sanctions placed against it by the West for Russia's 2014 annexation of Crimea and doing business in Russia remains uncertain for many companies.
Continued at www.upi.com/Top_News/World-News/2016/01/21/Russian-ruble-falls-to-80-per-dollar/6211453389552/?spt=sec&or=tn .
The ruble traded Thursday at 85.999 to the dollar, crossing the psychological threshold of 80 per dollar on Wednesday.
For most of the first decade of the 21st century, the ruble held steady at between 30 and 35 to the dollar. The currency, which has lost 9 percent of its value since the start of 2016, fell as the price of oil declined to levels not seen since 2003.
The country's economy has also been hit hard by economic sanctions placed against it by the West for Russia's 2014 annexation of Crimea and doing business in Russia remains uncertain for many companies.
Continued at www.upi.com/Top_News/World-News/2016/01/21/Russian-ruble-falls-to-80-per-dollar/6211453389552/?spt=sec&or=tn .
