Accessibility links

Breaking News

Russian Currency Slumps To Record Low

Russia's currency has slumped to a record low, trading at 82 rubles per U.S. dollar and 89.55 per euro.

The ruble's previous all-time low was 80.10 per dollar in December 2014.

The declining value of the ruble comes as global oil prices continued to fall, trading on January 20 at around some $27.45 per barrel and even briefly going under $27 per barrel.

The ruble also is under pressure from economic sanctions that the West has imposed against Russia in response to its support for pro-Russian separatists in eastern Ukraine.

World oil prices plunged after Iran announced a few days ago that it would begin producing hundreds of thousands of barrels per day in an already oversupplied market.

Based on reports by Reuters, AFP, Bloomberg, and Interfax

RFE/RL has been declared an "undesirable organization" by the Russian government.

If you are in Russia or the Russia-controlled parts of Ukraine and hold a Russian passport or are a stateless person residing permanently in Russia or the Russia-controlled parts of Ukraine, please note that you could face fines or imprisonment for sharing, liking, commenting on, or saving our content, or for contacting us.

To find out more, click here.