MARKET HEADLINES
Rouble slumps 7% versus dollar in early trade
The Russian currency has extended its losses, declining by 7 percent as the economy shows the first signs of recession.The ruble, which has been one of the world's worst performing currencies this year, traded at 57 rubles on Monday morning, wiping off some of the gains it made last week.
Russia's ruble ends 5-day rally, drops 4 percent
The Russian currency on Friday ended its five-day rally and declined 4 percent as the markets remain jittery over the outlook of the Russian economy. The ruble has been the worst performing currency this year along with the Ukrainian hryvnia, having lost nearly half of its value against the dollar. The ruble declined by 4 percent in afternoon trading to 54 rubles against the dollar. The Central Bank announced on Thursday that Russia's currency reserve has dropped below $400 billion for the first time since August 2009, as the government has been selling the currency on the market to support the ruble.
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