The Russian ruble is tumbling.
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The Russian ruble is tumbling as inflation picks up
The Russian ruble is weaker on Friday.
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The petrocurrency is down by 1% at 58.1678 per dollar as of 8:06 a.m. ET.
Earlier, data showed that Russian PPI rose by 12.7% year-over-year in January, marking the highest inflation since November 2015. It followed the 7.4% increase in December.
Moreover, Brent crude oil prices, which are down by 0.5% at $55.38 per barrel.
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Although the ruble is down on Friday, the currency has strengthened in February, which has rattled the Ministry of Finance and has even drawn the attention of the Kremlin.
- British pound
- the Office for National Statistics.
- euro
- miss a self-imposed deadline
- US dollar index
- The Baker Hughes rig count will be released at 1 p.m. ET.
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