Russian Rouble At All-time Low Against U.S. Dollar
September 16 2014 - 6:54AM
RTTF2
The Russian Rouble extended its decline against the U.S. dollar
on Tuesday, amid jitters over the impact of US and EU sanctions as
well as due to the shortage of foreign currency for debt
repayments.
The new round of sanctions imposed by the United States and
European Union put further restrictions on Russian oil companies
and banks, by limiting access to foreign forms of capital. The
banks and companies were hit hard due to acute shortage of foreign
currency, following their move.
The rouble continued its last week's decline against the
greenback, reaching an all-time low of 38.88. At yesterday's close,
the pair was worth 38.33.
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