The Russian currency is in a downward correction after hitting multi-year highs The Russian currency continued to slump on Wednesday, falling to its lowest point since late May against the US dollar and the euro. The ruble was 4.5% weaker against the greenback at 63.90, after touching 64.95, its weakest point since May 30. It was down 3.5% versus the euro, slumping to a five-week low. A week ago, the ruble reached seven-year highs against the major currencies, but has since shed over 20% amid concerns that its strength is putting a dent in Russia’s income from exporting commodities and other goods priced in dollar
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