Russia's ruble hits all-time low against the dollar

Source: AFP

Moscow (AFP) - The ruble hit a historic low on Wednesday as the dollar climbed past the 80.1 rubles level for the first time, exceeding the levels seen during the shock plunge of the Russian currency in December 2014.

After a day of relative calm, the ruble resumed its downward spiral, breaking through the previous record low it hit on December 16, 2014, as oil prices, key to Russia's economy, test 12-year lows.

The ruble was also trading at 87.6 against the euro as Asian and European markets suffered another rout.

Gas and oil account for more than a half of the Russian budget revenues.

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