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Press Review: Ruble Slides as Russia Slowdown Signs Fuel Worst Rout Since 1998
Ruble Slides as Russia Slowdown Signs Fuel Worst Rout Since 1998
The ruble extended its worst rout in 16 years as a slump in Russian business activity showed the economic slowdown is worsening, undermining central bank attempts to shore up the currency.
The ruble sank 1.7 percent to 54.78 versus the dollar by 11:01 a.m. in Moscow, after touching a record-low for a fifth straight day. The currency has fallen 18 percent in the past seven days, the most since October 1998. The Bank of Russia said today it sold $700 million on Dec. 1, its first intervention since moving to a free float almost a month ago.
Euro hits 27-month low vs. strong dollar on ECB easing bets
(Reuters) - The euro slid to a 27-month trough against a buoyant dollar on Wednesday, a day ahead of a crucial European Central Bank meeting that could pave the way for more easing measures in the euro zone.
The greenback also hit a seven-year peak against the yen, boosted by comments from U.S. Federal Reserve officials who painted an upbeat picture of the U.S. economy despite falling oil prices, prompting a ramping up of expectations of a mid-2015 interest rate rise.
Exclusive: New U.S. oil and gas well November permits tumble nearly 40 percent
(Reuters) - Plunging oil prices sparked a drop of almost 40 percent in new well permits issued across the United States in November, in a sudden pause in the growth of the U.S. shale oil and gas boom that started around 2007.
Data provided exclusively to Reuters on Tuesday by industry data firm Drilling Info Inc showed 4,520 new well permits were approved last month, down from 7,227 in October.
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