Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Ruble Hits 13-Month Low on Falling Oil Prices

Maxim Stulov / Vedomosti

The Russian ruble fell to its lowest level against the dollar and euro since December 2014 on Monday amid a drop in oil prices and falling stocks, the Interfax news agency reported.

On Monday morning the Russian ruble fell to 76 against the U.S. dollar and 83 against the euro.

The drop comes amid the continuing decline in the global prices for oil, Russia's major export. As of Monday morning, the price of Brent crude oil dropped to $32.52 per barrel, down 12 percent since the start of the year, the TASS news agency reported.

The ruble started to recover its losses following a slight increase in oil prices later that day. The Russian currency was trading at 75.33 against the U.S. dollar and 81.93 against the euro on Monday afternoon.

Since the beginning of 2014, the Russian currency has lost half of its value against the U.S. dollar.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more