Russian Ruble Trades At Near 5-month Low Vs U.S. Dollar

23:54, 3rd August 2015

(RTTNews) - The Russian Ruble traded lower against the U.S. dollar in early New York deals on Monday, following a sharp decline in oil prices and on continued contraction in Russia's manufacturing sector activity in July.

Survey data from Markit Economics showed that Russia's manufacturing sector remained in the negative territory for the eighth straight month in July.

The headline Purchasing Managers' Index for the manufacturing sector fell to 48.3 in July from 48.7 in June. Economists had expected the index to rise to 48.8.

Crude oil prices continued to collapse as weak Chinese data renewed concerns about demand from the world's second largest economy.

The ruble depreciated to 62.834 per greenback, a level unseen since March 11. If the Russian currency continues its slide, 64.00 is possibly seen as its next support level. The pair was worth 60.60 at Friday's close.