Sunday, 28 August 2011

Ruble Goes Down with Oil Prices

The Russian ruble fell these days as crude oil, the main supply of Russia’s export revenue, declined for the second day on issues for the recovery of the world economy.

August futures for crude oil delivery fell $0.98 (1 percent) to $95.29 a barrel. Crude retreated 10 % in June to very cheap in eight months. Economists say that the ruble are going to be driven by global market trends instead of the improving domestic conditions.

USD/RUB rose from 28.1965 to 28.2816 as of 15:06 GMT today after falling to 28.0185.

No comments:

Post a Comment