The rouble has tumbled 10 per cent in its biggest fall since 1998 amid a rout in Russian markets that looks set to cap a grim year for the Russian economy.
Investors have fled Russia this year amid western sanctions and an increasingly gloomy economic outlook, triggering a collapse in the rouble to record lows of 64.45 against the dollar and 81.35 to the euro yesterday.
In the bleakest official forecast yet from Moscow, the Russian central bank warned that gross domestic product could contract by 4.5-4.7 per cent if oil prices remained at $60 a barrel.
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