Excerpt from:  Forex News
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January 29, 2009

Russian Ruble: Poised to Break Through Target

Ruble continues to decline on currency market
One of more interesting currency market dramas playing out right now is that of the Russian ruble. The government has set a target level of 36 per dollar, but that seems as though it could be smashed fairly soon.

In the last two days, the ruble has declined about 5.5%, and not much more is needed to push the currency below the target. The global financial crisis and recession, coupled with dramatically sliding oil prices, has wreaked havoc with the ruble on the forex market.

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Topic Tags:  currency market, financial crisis, foreign exchange, forex trading, recession, ruble, Russian ruble

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