(VOVworld) – The Russian ruble has dropped to over 75 rubles per dollar, which is the lowest rate since December 2014. The maximum rate reached 75.10 rubles per US dollar on the Moscow Stock Exchange on Wednesday.

(Photo: Reuters)

The Canadian dollar hit its lowest level in more than 12 years on Wednesday trading below 71 cents US due to sharp decrease in the oil price and differences in the exchange rate policies between the US and Canada.

The loonie (Canadian dollar) closed at 71.02 cents US, down 0.46 of a cent. Douglas Porter, chief economist of Montreal Bank, said Canadian economy will continue to be affected by the fluctuation of oil price. Mr. Douglas said this impact may last until spring and CAD is likely to slip to below 70 cent US before recovery.