Russian Ruble falls in the lure of the crude oil price decline

The Russian ruble saw a step decline today against the US dollar. The main reason, which is projected behind the slowdown, is the decline in the price of the crude oil after the huge advancement of the US inventories more than what was earlier anticipated by the specialists.

The ruble has also declined earlier on the verge of the decline in the Eurozone economy, which turned the investors away from the currencies that were considered too risky and hence put forward a lot of pressure on currencies like Ruble.

The US stock of the crude oil climbed up from 9.0 million barrels to a top of 362.4 million last week. The earlier expected prepositioned value was around 2.1 million. Moreover the risker assets showed a tough sigh of pressure after the US service industry expanded much slower than the earlier expected values. The president of the European Central bank, Mario Draghi also stated about the risks this issue possess to the European Economy.

The USD/RUB saw a tough rise from 29.2460 to 29.4470 as noted on 15:59 GMT today.

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