Ruble drops to pre-conflict value against dollar

MOSCOW (AP) — The ruble has fallen against the U.S. dollar to the value it held just before Russia sent troops into Ukraine more than a year ago. The rate of 81.375 to the dollar at the end of Thursday’s trading continued a slow but steady decline that begin in mid-January. It reflects persisting concerns about Russia’s longterm economic prospects amid international sanctions, a European Union ban on seaborne oil exports and the wide-ranging departure of Western companies from Russia. The ruble lost about half its value in the early days of the Ukraine conflict but recovered after Russia enacted capital controls and even gained substantial value. In June, it was trading at about 52 to the dollar.