The Russian rouble has fallen to 1998 levels
The Central Bank set a record U.S. Dollar rate against the Ruble. The American currency has reached an historic high. On Tuesday, December 15th, the Central Bank of Russia set the Dollar exchange rate against the Ruble at around 70.82 rubles. This was the highest rate for the U.S. currency since 1998. Compared to the previous trading day, the Dollar rose more than 60 cents.
The Euro exchange rate of the Central Bank was set at 78.23 rubles. The European currency has not yet exceeded its highest point, which was recorded in December 2014, at 84.58 Rubles. The evening before, the international oil price reached its lowest level since December 2008. The cost of the North Sea Brent crude oil fell to a level of 36.62 dollars during mid-day trading. According to a statement made Tuesday by the Assistant to the President of Russia, Andrei Belousov, the Kremlin does not doubt that fluctuations in oil below $40 could last "a long time."