The ruble traded at 84.8 to the dollar in Moscow after trading the market opened Thursday, trumping yesterday`s record-breaking low of 80.1 to the dollar.
The steep decline in oil prices— now at a 12-year low below $28 a barrel— has been a severe blow to Russia`s oil-dependent economy.
The IMF predicted Tuesday that Russia`s economy will contract by 1 percent in 2016 after a fall of 3.7 percent last year, before returning to 1 percent growth next year.
Russian ruble continues falling, hits new record low
21 January 2016
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The Russian ruble has hit another historic low against the dollar as oil prices continue to slide due to a surplus of crude oil on world markets.
