Financial Times FT.com

Shift to dollar sees rouble plumb new low

By Catherine Belton

Published: January 15 2009 19:34 | Last updated: January 15 2009 19:34

The rouble hit historic lows against the dollar and euro on Thursday as Russia accelerated a controlled devaluation of the currency to adjust for the collapse in the oil price.

The rouble fell against the dollar to Rbs32.35, while the euro hit Rbs42.55 as the central bank widened the band that the rouble trades against a euro-dollar basket for the fourth time in five days.

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