Russian Ruble crashes

RUSSIA / FSU POLITICS - In Brief 09 Mar 2020 by Alex Teddy
On March 9 Russia woke up to the RUB having dropped 10% overnight. The currency has lost value dramatically due to the fall in oil prices. This is a repercussion of the breakdown in Russia's talks with OPEC. Benchmark Brent crude is at USD 33. This is the lowest RUB value since 2016. It is 74.9 to the USD. Russia is in a stronger position than during previous currency crashes. Russia's reserves are USD 570 billion.

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