(Agence France-Presse) Russia's ruble slumped to a new all-time low on Friday as the economic fall-out from the Ukraine crisis and lower oil prices caused the finance minister to call for a "back-up" 2015-2017 budget.
For the first time it took more than 53 rubles to buy one euro, and the rate against the dollar topped 41.92 with speculation swirling that Standard and Poor's could cut its rating for Russia to a "speculative" level.
Russia's Finance Minister Anton Siluanov however dismissed talk of a possible downgrade as "exaggerated" as the agency was set to release its latest rating Friday, RIA Novosti news agency reported.
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