Rouble Is Tanking Again

The Russian rouble has fallen over 3% against the dollar in early trading, shrugging off the central bank's attempt to halt the slide by raising interest rates.

The country's central bank increased interest rates by 1% on Thursday to 10.5% in an effort to slow the pace of rouble falls. However, the currency has continued to track the oil price downwards as WTI crude dropped below $60 a barrel, down from $107 a barrel in June, and Brent slid to $63.12 on Friday.

At the time of writing $1 would buy you over 57 roubles, a new record level.

BloombergDollar vs the rouble.