Worst Week for Ruble Since 1999

Woes for the Russian ruble continue as the currency experienced the worst week since 1999. Analysts think that the ruble may go even lower, reaching the 50 per dollar level.
Reasons for currency’s weakness remain the same: the situation in Ukraine and falling oil prices. The decline of prices for crude was hurting currencies of oil-exporting economies, while the escalating conflict in Ukraine may result in a new round of sanction against Russia. Most economists believe that under such circumstances the Russian currency will likely drop even further.
USD/RUB jumped as much as 0.90 percent to 47.2380 as of 10:36 GMT today.

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