Russian ruble falls sharply on OPEC oil decision

MOSCOW: Russia's ruble lost more than two percent against the dollar in response to the OPEC oil cartel's decision to leave its collective output ceiling unchanged.

The Russian currency was trading around 48 rubles to the greenback at 1550 GMT -- nearly 2.5 percent lower that the level at which it stood before the announcement in Vienna about 90 minutes earlier.

The ruble also shed 2.1 percent against the euro and was trading around the 59.80 mark to the single European currency.

The ruble hit inter-day lows of 60.27 to the dollar and 48.64 against the euro on November 7.

Energy-rich Russia generates about half its federal budget revenues from oil and natural gas exports.