Ruble Breaches Crisis Low as Economy Reels From Oil Shock: Chart

Ruble Low Good for Commodity Companies: Deripaska

The ruble’s plunge to a record low on Wednesday hasn’t unsettled Russia’s central bank governor Elvira Nabiullina.

With the ruble breaching a threshold it last crossed during Russia’s financial crisis in December 2014 amid sanctions over Ukraine, Nabiullina says the currency is trading at fair value and doesn’t need support, even as crude prices reached a 12-year low. Oil’s collapse is choking revenue of the world’s biggest energy exporter.

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