By James Slavyanski
MOSCOW
The ruble managed to reach 60 to the dollar and 74 to the euro Friday morning, though it appears the trend could be a repeat of Thursday's modest early gains followed by a retreat.
The RTS index of Russian stocks, which made significant gains in the morning and midday Thursday, ended up falling by the evening. That decline continued Friday morning, with the morning RTS index at 759.68 -- a drop from Thursday's 768.98.
The plummeting price of oil is thought to be a major factor in the ruble's recent woes. Friday morning the price of oil continued its slow but steady fall, from Thursday's $59.52 per barrel to Friday morning's $59.49.
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