The Russian currency has regularly set new records, but, unfortunately, all of them are with a negative sign. In August, the ruble once again overcame important and psychological levels against the US dollar and the euro. During early trade on the Moscow Stock Exchange, the Russian currency plunged below the level of 65 rubles against the US dollar and 72 rubles for one euro. Market participants were ready for such events. A sharp drop in oil prices leads to a rapid weakening of the Russian currency. Currently, not only professional traders note that these two events are related to each other. In addition, the yuan's devaluation puts downward pressure on the ruble's exchange rate. After the publication of this news, the Russian currency began to fall rapidly. The ruble's exchange rate movement recorded within one day in August is equal to changes of a stable world currency for the whole year. The currency auctions opened by a sharp depreciation of the ruble. The US dollar was worth 64,6 – 65 rubles but in several minutes the greenback rose to 64,9 rubles, which is 62 kopecks above yesterday's closing value. At the same time, the euro increased by 87 kopecks having reached the mark of 71,92 rubles. The bi-currency basket rose 73 kopecks to 68,06 rubles. After a few minutes, the US dollar firmed at the level of 65 rubles, and the euro climbed to 72 rubles. The Russian ruble has hit a new six-month low against the US dollar and euro.
