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Rouble falls again

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Rouble falls again

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It has been a bleak start to the New Year for the rouble. The Russian currency opened sharply lower against the dollar on Monday dragged more than four percent down by weaker oil prices in volatile holiday trade.

It started the day 4.5 percent weaker against the dollar at 58.51 roubles and 2.4 percent weaker against the euro at 70.29.

The Russian currency fell around 40 percent against the dollar last year, hit by the falling oil price and Western sanctions over Ukraine that have limited Russian companies ability to borrow abroad and spurred demands for dollars.