The ruble recovered slightly followed by S&P downgrade Russia's rating

The ruble has recovered slightly, trading at 67.79 per dollar, after ending Monday's session over 6% lower at 68.79. The plunge followed yesterday's move by S&P to downgrade Russia's sovereign rating to junk due to weak economic growth prospects, low oil prices and Western sanctions. Russian share indexes opened lower this morning, although the ruble-based MICEX is now up by 1.6%, while the dollar-based RTS is still down by 0.8%