The ruble continued to slide on Tuesday, hitting another record low against the dollar and euro. The Russian currency traded at 42.4084 to the dollar, setting it on track for the weakest level ever against the greenback, according to FactSet data. The ruble also depreciated against the euro , trading at 53.9897, which is an all-time low for the ruble too. The currency has been hit hard recently by the slide in oil prices, as Russia is heavily dependent on tax revenues from oil exports.
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