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16 Dec 2014
USD/RUB hits fresh All-Time High of 66.60
FXStreet (Mumbai) - The Russian ruble erased gains against the US dollar from the early European morning and hit a fresh record high ignoring Russian central bank’s rate hike action.
Currently, USD/RUB jumped to 65.79 levels, up 0.43% on the day, erasing sharp losses seen during the Asian hours and early European morning. The ruble initially gained versus the US dollar after the Bank of Russia unexpectedly increased the key policy interest rate to 17% during an emergency meeting overnight, in a bid to slow the national currency's downfall. However, the ruble seems to shrug off the massive-rate hike central bank and resumes its slide amid continued declines oil prices. Brent crude oil fell below USD 60.00/barrel today for the first time since July 2009.
The Russian ruble has fallen almost 100% against the greenback on a nominal basis ytd.
Currently, USD/RUB jumped to 65.79 levels, up 0.43% on the day, erasing sharp losses seen during the Asian hours and early European morning. The ruble initially gained versus the US dollar after the Bank of Russia unexpectedly increased the key policy interest rate to 17% during an emergency meeting overnight, in a bid to slow the national currency's downfall. However, the ruble seems to shrug off the massive-rate hike central bank and resumes its slide amid continued declines oil prices. Brent crude oil fell below USD 60.00/barrel today for the first time since July 2009.
The Russian ruble has fallen almost 100% against the greenback on a nominal basis ytd.