Russian Ruble Falls Most in World on Oil After Two-Day Holiday
- Decline pares second-biggest gain in emerging markets in 2016
- Oil slumps as data shows global supply glut of crude unabated
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The ruble weakened the most among currencies worldwide, catching up with the biggest decline in oil in more than a month, as Russian markets reopened following a two-day holiday.
The currency slid 2.2 percent to 66.06 per dollar by 6:15 p.m. in Moscow. That pared its gains in 2016 to 11 percent, the most in emerging markets after Brazil’s real. Brent crude tumbled as much as 6.6 percent on Monday and Tuesday when Russian markets were shut for May holidays.