Russian ruble crashes to record low

The Ruble has fallen for three consecutive years and is now under massive pressure from crude's unstoppable decline. In October 2015 the RUB touched its local high of 61.88 against the USD and after a short period of consolidation entered a rather steep downtrend. Since the beginning of January, the Russian currency has lost more than 10% and made multiyear low at 85.9493 levels. There are several factors affecting the currency movement. It is the most sensitive to the Oil market. Since the beginning of 2016 oil prices have dropped more than 26 percent and Russia is heavily dependent on Oil exports. 

This is the reason Russian economy contracted an estimated 3.7% in 2015. Apart from the Oil market, external corporate debt and geopolitical factors are more or less affecting the RUB movement.