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Russia's ruble extends historic lows against euro, worst since 2008 crisis

MOSCOW--Russia's ruble opened nearly one percent lower against the euro on Monday, extending losses which have taken it below record low levels against the single European currency.

The euro was being traded at 47.54 rubles in the opening hours of trading on the Moscow Exchange — substantially stronger that the 42.25 record it had set in the worst months of Russia's 2008-2009 financial crisis.

The dollar was being traded nearly 0.7 percent higher at 34.71 rubles. The level was also its highest against the Russian currency since the end of 2008.

The two currencies have both gained more than 1.5 percent against the ruble since Thursday's close.

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