Ruble slides to all-time low

The recent falls in oil prices have dragged the Russian currency with it

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With oil prices as low as they are, the weakness of the ruble is warranted, says expert

The ruble weakened to an all-time low against the US dollar last week, with USD/RUB trading just shy of 86 on Thursday (January 21) before retracing back down to 78 the following day.

The Russian currency's slide caught many a strategist unaware, with the consensus among contributors to FX Week's one-month forecast predicting a rate of 67 by the end of the week.

While USD/RUB weathered the continuing fall in oil prices rather well throughout 2015, staying well below the high of 78.5 reached in

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