MOSCOW: Russia’s ruble opened about 5 percent lower against the dollar on Monday, dragged down by lower oil prices in volatile holiday trade.
At 10:05 a.m. in Moscow, the ruble had recovered some of its losses to trade almost 4 percent weaker against the dollar at 58.10 rubles and 1.2 percent weaker against the euro at 69.50.
Oil prices, which have declined more than 50 percent from peaks in June last year, hit a five-and-a-half year low as global growth concerns fanned fears of a supply glut.
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