The rate Russian Ruble to US Dollar has reached a three-week low and tumbled as much as RUB 65. per dollar. The fall over the past week amounted to about 8%, or 5 rubles.
The main factor influencing the rate of the Russian currency is the oil price, which has fallen in price rapidly in recent days. According to the analysts, the main reason for the latter is the data on the increase in US crude oil reserves, as well as published information on intentions to sell some of these stocks.
The market has also reacted to the decline in the ruble purchase for tax payments to exporters and the expectations of most analysts and market players that the next decision by the Central Bank on discount rate will decrease its level.
According to the materials by investing.com