November 19, 2008

As stocks and oil prices fall, Russians worry about the ruble

The value of the ruble is crucial for Prime Minister Vladimir Putin, who's built much of his reputation on returning financial stability to the nation during his eight years as president. Now the price of oil has fallen to $55 a barrel from a high of $147 this summer and stocks have lost 70 percent of their value, and there are fears the ruble could slide as well.

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