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Russian Ruble Hits Historic Low Against Dollar

The Russian ruble fell to a historic low against the U.S. dollar after the West imposed new sanctions over the Ukraine crisis.

The ruble slumped to 38.04 to the dollar shortly after markets opened in Moscow on September 15.

It was the first time the ruble has weakened beyond the rate of 38 to the dollar.

The euro also rose against the Russian currency, reaching 49.25 rubles shortly after markets opened.

The United States and the European Union imposed new sanctions against Russia on September 12, targeting banks and major energy and defense firms.

They have promised to scale back or cancel the measures if Russia abides by a cease-fire in eastern Ukraine and withdraws soldiers Kyiv and the West say Moscow has sent in to support pro-Russian separatists there.

Based on reporting by AFP and Interfax

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