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Russian Ruble Hits Record Lows

M. Ali 2 November, 2020 9:37 pm Forex Market, Market Update

The Russian Ruble (RUB) declined on Monday against the US Dollar (USD) and the Euro (EUR), on the back of falling oil prices, and rising uncertainty about the new wave of the COVID-19 pandemic and the US elections.

Year to date, the RUB has lost 23% against the USD and 26% against the Euro, according to Reuters.

The USD/RUB is up for the day by 1.36%, trading at 80.4840, its best level since late March.

Meanwhile, the EUR/RUB is up by 1.23%, trading at 93.6390, after recording 94.14 earlier today, reaching the lowest level for the Russian currency since December 2014.

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