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Russian Ruble Falls To Another Record Low Against Dollar

The Russian ruble fell to new record low against the dollar and sank against the euro in trading on the Moscow Exchange on September 29.

The dollar gained 32 kopecks against the ruble to a record high of 39.50 rubles to the dollar as of 11:30 Moscow time, while the euro went over the 50-ruble mark to 50.13 rubles to the euro.

The new record low against the dollar comes on the heels of steep ruble declines on September 26.

The Russian Central Bank has said it is very close to intervening to support the ruble against the dollar and the euro.

Meanwhile, shares of the Russian company Sistema fell by 10 percent on September 29 on the Moscow Stock Exchange. Sistema is owned by billionaire Vladimir Yevtushenko, who is under house arrest on corruption charges.

Based on reporting by ITAR-TASS and Bloomberg