Russian ruble drops more as oil prices plumet
The Russian Central Bank says it has prepared an emergency scenario in case the situation deteriorates.
The Russian ruble exchange rate keeps decreasing: it reached 66.40 roubles per euro and 53.20 roubles per dollar at Moscow Stock Exchange on December 1.
The official Russian rouble exchange rate announced by the Central Bank of Russia for Tuesday has gone up by 3.03 roubles – to 64.44 roubles per euro and by 2.48 roubles – to 51.80 per dollar.
The dollar has gone up by 7.38 roubles in almost 5 days (16.6%) and the euro – by 9.26 (16.55). The Russian rouble exchange rate dramatically decreased in November and the oil prices and other factors caused it.
The oil prices reached the 5-year minimum on Monday. They will continue dropping to $60 per barrel, the Central Bank of Russia expects. Some stress scenario has been created in case it happens.
