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The dollar rose to new record highs against the ruble Monday, as unraveling oil prices were compounded by fears that some of Russia’s largest companies could default on their dollar-denominated debts.In recent trade, the dollar rose to 65.5870 rubles RUBUSD, +6.41% — its highest level ever — as the price of West Texas Intermediate crude oil for January delivery sunk below $56 a barrel. The dollar was worth 58 rubles Friday.
Worries about the falling price of oil pushed the dollar lower against the yen Monday. The buck USDJPY, -0.52% was worth 117.64 yen Monday, compared to ¥118.80 Friday.
The ICE U.S. Dollar Index DXY, -0.17% , a measure of the greenback’s strength against a basket of six currencies, was flat for the day at 88.4360.
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