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    U.S. dollar hits 9-year low against Russian ruble

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    The U.S. dollar sank to its lowest point against the Russian ruble since 1999 at the end of this week's trade on the Moscow Interbank Currency Exchange (MICEX).

    MOSCOW, July 12 (RIA Novosti) - The U.S. dollar sank to its lowest point against the Russian ruble since 1999 at the end of this week's trade on the Moscow Interbank Currency Exchange (MICEX).

    The dollar fell by 10 kopeks during Friday's trade to reach 23.305 rubles, the lowest level since March 1999.

    The dollar fell sharply against the euro and the British pound on Friday amid fears that the two largest U.S. mortgage providers - the Federal National Mortgage Association (known as Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) - will need a government bail-out.

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