June 4th, 2012

Rouble falls the three-year lows amid eurozone and oil fears

Lenin looks concerned with the rouble's recent performance

The AFP is reporting that the rouble reached a new three-year low Monday as worries increased regarding the eurozone crisis and falling oil prices.

Problems in the eurozone have compelled investors to flee to safer currencies, and investors remain concerned about capital flight from Russia, as some $35 billion left the country during the first quarter.

Urals blend crude was down to $96 a barrel Monday. For Russia to be able to balance its federal budget, oil prices must reach between $110-$120 a barrel.

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