The Russian rouble just sank to the lowest point in its history, above 50 to the dollar.
It’s down 5.27% against the US currency today alone. The dollar is about 50% stronger against the rouble than it was at the start of 2014. It’s following the crumbling price of oil,
Here’s what the US dollar-Russian rouble exhange rate looks like over the last five years:
The fall in oil prices has dramatically weakened the Russian currency, which had been much more stable in the previous three years.
Brent crude is now down to just $US68, and the other major benchmark of oil prices, West Texas Intermediate (WTI) is down to just $US65, a five and a half year low.