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Russia goes on devaluing its currency · 2008-12-25 17:56

The rouble, www.russiablog.orgRussia has devalued its currency, the rouble, for the third time this week and the seventh time this month.

According to BBC, it takes it to its lowest value against the US dollar since January 2006.

The Russian currency has been hit by the price of oil, which is Russia's main export. Oil prices are more than $100 a barrel below their July peak.

The rouble is now more than 15% below its record levels against the US dollar, which were set at the beginning of August.

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