Russian central bank explains ruble’s slide ...News

Declining global oil prices have been weakening the currency, Deputy Chairman Aleksey Zabotkin says The recent weakening of the Russian ruble could be attributed to the fall of global oil prices, according to Aleksey Zabotkin, Deputy Chairman of the Central Bank of Russia, cited by business daily RBK on Monday. Volatility in the Russian foreign exchange market has increased sharply since the beginning of December, with the ruble falling to a more-than-eight-month low against the US dollar last week. The Russian currency, however, started recovering since Friday to begin this week at around 68.2 rubles to the dolla

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