Market Overview

Russia's Currency Set To End 2015 At Yearly Lows

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The Russian ruble is set to close 2015 at its yearly lows.

According to Russian-based RT, the Russian ruble has fallen to 72.47 against the U.S. dollar, marking the worst exchange rate since December 17, 2014. Meanwhile, the euro was trading at 79.55 against the ruble, the highest level it has seen since August 26, 2015.

RT noted that the Russian government's 2016 budget assumes oil would trade at $50 a barrel and its currency would be valued at 63.3 rubles per dollar. However, the Russian economy won't be threatened by $40 oil, although it won't allow for the country's GDP to turn positive in 2016.

Posted-In: Russia Russia GDP Russia RubbleForex Markets

 

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