12 Dec 2014
USD/RUB hits All Time High
FXStreet (Mumbai) - The Russian currency continues its carnage and clocked a fresh all time low against the US dollar as oil prices rout extends.
USD/RUB trades at 57.41 levels, gaining 1.83% on the day, after registering all time high at 57.95 levels, just under 58 handle. The ruble failed to find support from the 100 basis points hike in main lending rate by the Russian central bank yesterday.
Moreover, plunging oil prices to five year lows have accelerated the losses in the Russian currency.
USD/RUB Technical Levels
For the pair, support stands at 57.06 (5-day SMA) levels, below which it could extend losses to 56.56 (Dec 11 High) levels.
USD/RUB trades at 57.41 levels, gaining 1.83% on the day, after registering all time high at 57.95 levels, just under 58 handle. The ruble failed to find support from the 100 basis points hike in main lending rate by the Russian central bank yesterday.
Moreover, plunging oil prices to five year lows have accelerated the losses in the Russian currency.
USD/RUB Technical Levels
For the pair, support stands at 57.06 (5-day SMA) levels, below which it could extend losses to 56.56 (Dec 11 High) levels.