The Russian Rouble Is Collapsing Again As Oil Prices Slide To New Lows

Any hope of respite for Russia's currency has been dashed this morning as the rouble continued its steep decline against the dollar and the euro. The currency weakened on the back of news that oil prices were falling again on reports that Saudi Arabian state oil company, Saudi Aramco, was cutting prices to US buyers in a bid to compete with the shale oil boom in the country. The recent falls have more than wiped out the flash rally last week, which saw the rouble suddenly reverse its declines. ...