{"id":83173,"date":"2015-12-31T04:14:47","date_gmt":"2015-12-31T09:14:47","guid":{"rendered":"http:\/\/countingpips.com\/?p=83173"},"modified":"2015-12-31T04:14:47","modified_gmt":"2015-12-31T09:14:47","slug":"russian-rouble-weakens-further-to-one-year-low-amid-weak-oil-prices","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/12\/russian-rouble-weakens-further-to-one-year-low-amid-weak-oil-prices\/","title":{"rendered":"Russian Rouble weakens further to one year low amid weak oil prices"},"content":{"rendered":"<div id=\"inves-1018768936\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 31, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>The Russian rouble weakened substantially in the final week of 2015, reaching its lowest level in a year on Thursday December 31st amid falling oil prices.<\/p>\n<p>Benchmark Brent crude oil fell more than 3 per cent to $36.64 a barrel on Wednesday as Saudi Arabia reiterated it would not cut production in response to lower oil prices after announcing a radical austerity programme earlier this week.<\/p>\n<p>The news helped to trigger a slide in the rouble to more than 73 to the dollar. The Russian currency is down 26 per cent since the start of the year.<\/p>\n<p>Meanwhile, Russia is faced with the prospect of a second successive year of recession in 2016 amid continued oil price weakness.<\/p>\n<p>The Russian economy is expected to contract 3.7 per cent this year, hit by falling oil prices and western sanctions. Russian government data showed that the economy contracted month-on-month in November for the first time in five months.<\/p><div id=\"inves-2603841145\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>The year 2016 is also expected to be challenging for the Russian economy, despite Russian President Vladimir Putin saying the \u201cpeak of the crisis\u201d had passed. The ongoing weak oil prices has tempered those optimistic expectations.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime The Russian rouble weakened substantially in the final week of 2015, reaching its lowest level in a year on Thursday December 31st amid falling oil prices. Benchmark Brent crude oil fell more than 3 per cent to $36.64 a barrel on Wednesday as Saudi Arabia reiterated it would not cut production in [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-83173","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/83173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=83173"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/83173\/revisions"}],"predecessor-version":[{"id":83177,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/83173\/revisions\/83177"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=83173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=83173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=83173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}