Russian Ruble Falls with Oil

Russia’s ruble declined today after crude oil prices fell on the concerns about the power transition and the political stability in North Korea and the uncertainty with the situation in Europe.
Futures on crude oil fell 0.9 percent to $92.67 per barrel in New York after dropping 0.4 percent on December 16 and touching the lowest level since November 2. Investors bet that the ruble will decline further to 32.4915 per dollar in the next three months. The uncertainty about the relationship between North and South Koreas, as well as the continuous problems of Europe, put additional downward pressure on oil and, as a result, the ruble.
USD/RUB rose from 32.0095 to 32.1031 as of 17:26 GMT today.

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