The Russian ruble weakened amid risk aversion caused by unwillingness of European Central Bank President Mario Draghi to back up his promise to address the issues of the eurozone by any real action.
The ruble felt the pressure of traders’ disappointment after the ECB policy meeting. Crude oil, the main source of Russia’s export revenue, declined 0.9 percent to $ 88.07 a barrel in New York. Fears that Germany’s Bundesbank would oppose the ECB actions to save the eurozone did not help the market sentiment either.
USD/RUB rose 0.5 percent to close at 32.4950.
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