The Rouble started the week well, rising 0.4% against the US dollar on Monday, amid rises of 1.6% in crude oil. However, since then, it has slid back in the other direction, continuing its poor form, which has seen the Russian currency fall 33% since May. And it’s not just Crude oil prices that are hitting the Russian economy hard – metals and mining stocks on the Micex Index slumped 3.8% on average, with Russia’s largest mining company falling 5.4%. The fluctuating commodities prices, coupled with economic sanctions regarding Ukraine, have placed great strain on the economy, and despite a few small revivals, it seems that the Russians have a lot more to do.
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