Excerpt from: GFT Analysts in the News
|
 |
| November 07, 2008 | | Oil prices may mean a lower ruble in currency trading | Right now, oil prices are remaining rather low. And, because oil is a main source of income for Russia, this has not been helping the economy nor the currency.
As a result, there is talk that the Russian ruble may have to be devalued. Russian leaders are mulling a 30% devaluation in the ruble.
Even efforts to help maintain the currency at a certain rate against a basket of the euro and the dollar has not helped.
| Topic Tags: currency, currency trading, dollar, euro, forex trading, oil prices, Russian ruble | |
|
|