Russian Ruble Hits More Than 3-month Low Against U.S. Dollar

The Russian Ruble weakened against the U.S. dollar in early New York deals on Tuesday, as oil prices tumbled on signs of growing supplies from key producers namely Libya and Nigeria.

Rising crude production in the United States, Libya and Nigeria are undermining OPEC’s effort to shrink global supply glut.

The Russian Ruble dropped to 59.39 against the greenback, its weakest since March 14. If the Ruble extends decline, 60.00 is possibly seen as its next support level.

The material has been provided by InstaForex Company – www.instaforex.com

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