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Excerpt from:  Forex News
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November 19, 2008

Russian Ruble Continues Decline on Oil Prices

Ruble struggles on FX market
The Russian ruble has begun to depreciate on the FX market, with some help from the government. But external forces aren't helping the place of the ruble in currency trading much, either.

One of the biggest factors affecting the Russian ruble in forex trading is the fact that oil prices are falling. Much of Russia's wealth is based on oil, and with the global recession curbing demand, it is no surprise that the ruble is falling as well.
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Topic Tags:  currency trading, forex trading, FX market, FX market currency trading, oil prices, ruble forex trading, ruble FX market, Russian ruble
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