Russia’s ruble hits record low against $

Russia’s currency, the ruble, hit a historic low on Wednesday as the American dollar climbed past the 80.1 ruble level for the first time, exceeding the levels seen during the shock plunge of the Russian currency in December 2014. 

After a day of relative calm, the ruble resumed its downward spiral, breaking through the previous record low it hit on December 16, 2014, as crude oil prices, crucial to the Russian economy, tested 12-year lows. The ruble was also trading at 87.6 against the euro as Asian and European markets suffered another rout.