FINANCIAL TIMES: The rouble suffered its worst intraday fall since Russia’s 1998 financial crisis amid renewed fears over the impact of tumbling oil prices on the country’s economy.
At one point the rouble hit a record low of 53.86 per dollar – a move of 6.5 per cent, according to Reuters data – though it later pared some of its losses.
The near 40 per cent fall in the oil price since mid-June has put huge strains on Russia, which last year derived more than half of its budget revenues from oil and gas extraction … (more)
