The Russian ruble isn't the only currency getting hit by the plunge in oil prices.
The slide in the ruble, which has lost nearly half its value since July, has raised concerns of a wider economic fallout if the drop continues. As oil prices have fallen, currencies of other developing countries that rely heavily on exports also have been sliding.
The list includes Nigeria, Angola and Algeria, which depend on hard currency from the sale of oil to finance government operations and pay for imported goods.
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"The pressure on most of these currencies shows no signs of easing," Capital Economics economist Jack Allen said in a recent note to clients.