The Russian ruble moved down against the U.S. dollar in European deals on Wednesday, as oil prices hit an 11-year low amid a stronger dollar and on weak Chinese services PMI data.

Business activity in China's services sector expanded at its slowest pace in 17 months in December, a closely-watched private survey showed today, fanning concerns over China's slowing growth.

The Russian ruble slid to 74.40 against the greenback, its lowest since December 31, 2015. If the Russian currency slides further, 76.00 is possibly seen as its next downside target level. The pair ended Tuesday's trading at 72.87.

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