| The Bank of Russia said that the ruble and the Russian economy could be hit by sliding prices for commodities—the country's key exports—if oil prices fail to recover in the midterm.
The ruble hit fresh all-time lows on Tuesday, weakening to 38.93 against the dollar, as banks and companies bought foreign currencies and external markets remained largely closed to Russian borrowers. A drop in the price of Brent crude to $98 per barrel from above $115 three months ago has added to downward pressure on the ruble.............................................Full Article: Source
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