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Russia’s Ruble Follows Crude Oil in Decline

April 4, 2012 at 15:59 by Vladimir Vyun

A mix of Russian ruble notesThe Russian ruble slid today against the US dollar as crude oil prices declined after US inventories advanced more than was predicted by specialists.

US stockpiles of crude climbed by 9.0 million barrels to 362.4 million last week. The expected increase was 2.1 million. Moreover, riskier assets were under pressure after US services industry expanded slower than was anticipated and Mario Draghi, the President of the European Central Bank, talked about downside risks for the European economy.

USD/RUB rose from 29.2460 to 29.4470 as of 15:59 GMT today.

If you have any questions, comments or opinions regarding the Russian Ruble, feel free to post them using the commentary form below.

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