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 Ruble Steadily Weakens Due to Sanctions and Oil Prices Making Central Bank Intervene

Russia's rouble weakened to 44.40 against a dollar-euro basket soon after opening on Friday, hitting the level where the central bank starts unlimited interventions to defend the currency.

The rouble first breached this level on Oct. 1, prompting the central bank's first interventions to support the rouble since May, Censor.NET reports citing Reuters.

Read also: Ruble Continues Plummeting. Dollar Sets New Historic High

The currency has been under heavy selling pressure for months due to falling oil prices, sanctions over the Ukraine crisis and strong demand for dollars from Russian firms shut out of international capital markets.

 
 
 
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