The Russian ruble is plunging on Thursday.
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The Russian ruble is plunging as oil tumbles below $50
The Russian ruble is plunging as oil prices drop.
The petro-currency is down by 2.1% at 59.3843 per dollar as of 7:49 a.m. ET.
This move follows the earlier drop in oil prices. Brent crude oil, the international benchmark, is down by 2.0% at $52.02 per barrel as of 7:51 a.m. ET.
Meanwhile, WTI Crude oil, the US benchmark, has fallen below the $50 mark: it is down by 2.3% at $49.15 per barrel. The last time WTI crude was below $50 was on December 15 of last year.
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