Russian stock market slumps due to currency crash and falling oil prices
The RTS index, one of the main Russian stock indicators, slumped to 970.13 points at the opening of trading on Friday, the level it was in July 2009, according to the BBC’s Russian Service.
The MICEX index dropped to 1528.33 points.
Meanwhile, the ruble to dollar exchange rate has increased almost to RUB 49.66, while the euro is now at RUB 61.8.
The markets are continuing to react to the OPEC decision not to reduce oil production, the BBC said.
The benchmark Brent crude oil price dropped to $72 per barrel on Thursday evening, with experts predicting a further decline.