Russian ruble's depreciation continues

FX_IDC:USDRUB   U.S. Dollar / Russian Ruble
Russian ruble's tests at around 80 seems to support the idea of further supply at and above this level. A further move towards 90 and above can be expected though the trend may turn afterwards.

Russia is an important commodity exports based country and oil is an important component of country's revenues. However, oil market outlook is not bullish and not supporting ruble's prospects.


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