U.S. dollar, euro surge to new highs vs Russian ruble

The Russian currency has weakened against the U.S. dollar and the euro at the start of trading, hitting rates last seen in December 2014, Russia's RBC news agency reported.

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The U.S. dollar rose significantly to a level of 74.46 rubles in early Moscow trading on Monday, January 11.

The euro rose to a new record high since December 2014 of 83.97 rubles.

The Russian currency continues weakening on the domestic forex market amid a decline in crude oil prices on global markets and increased worries about the Chinese markets, according to the report.

Thus, Brent crude futures for February delivery have dropped by 1.5% to $33.04 per barrel since the beginning of trading on January 11.

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