The Ruble's Never Moved This Much in Sync With Crude Oil: Chart

For a sign of just how forcibly oil’s swings this year are affecting Russia’s currency, the ruble’s 120-day correlation with the nation’s main export earner climbed to a record 0.797 on Monday after doubling in six months. The reading was 0.795 on Tuesday. A level of 1 would indicate the two assets are moving in lockstep.

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