The rouble fell to the lowest in almost three years against the dollar as Russia devalued the currency against its dollar-euro basket and tumbling oil prices battered the economy.
The rouble weakened as much as 1 per cent to 28.4567 versus the dollar, the lowest level since January 2006, and was at 28.3525 at 3:15 pm in Moscow.
Bank Rossii On Monday allowed the rouble to decline for the second time in three working days and the ninth time since November 11, according to a central bank official who declined to be identified. The currency fell 17 per cent against the dollar since the beginning of August.