Russian Rouble down with oil & US Election fever?
Lowering oil prices drags the rouble down!
What ails the Rouble?
The global oil price of Brent crude oil has a direct affect on the price of Rouble.
Rouble prefers a harder Brent price
The Rouble was seen going down by as much as 1.7% which took it to
94.12 Roubles making one Euro. this is a significantly lower price and it is the lowest price since December 2014.
As compared to the US$ it took a 2% tumble and broke the 80 Rouble to a US$ level.
This level was seen breaking for the first time since March.
It may be noted that Rouble has become weaker by as much as 23% against the US$ this year alone.
This price action is seen in light of the Brent crude oil price had slid 16% of its value and this being the international standard can have adverse effect on currencies.
If one steps back to view the price trend then one finds the Brent crude price softening by 40% since the year end of 2019.
interpretations of US Poll predictions
Joe Bidens lead may translate into a win and if this were to be the case and the US got its next president as the Democrat Joe Biden then it may lead to tighter sanctions against Russia and this too has had a dampening effect on the Rouble price.
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