Dollar, Euro Rise Against Ruble Amid Falling Oil Prices

On Monday morning, the US dollar and the euro appreciated against the Russian ruble and were traded at 58.02 and 70, respectively.

MOSCOW, January 5 (Sputnik) — The dollar and the euro have risen slightly against the ruble on the opening day of foreign exchange auctions for 2015, partially in response to falling oil prices, according to data provided by the Moscow Interbank Currency Exchange Monday.

Russian ruble banknotes of different denominations - Sputnik International
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By 10:21 a.m. Moscow time (7:21 a.m. GMT) the dollar had risen against the ruble to 58,02, and the euro traded at 70 rubles, an increase of 1,35 ruble. The benchmark price of Brent crude oil dropped to $55 a barrel.

Russia has seen a rapid depreciation of its national currency in recent months due to falling oil prices and geopolitical tensions related to the Ukrainian crisis. During the last few months, oil prices have declined sharply from above $110 per barrel to the current $55 price, amid market oversupply.

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