Rouble Falls Ahead Of Putin Media Conference

The rouble has last more ground ahead of Russian President Vladimir Putin's annual news conference.

The currency was more than 2% weaker on the day despite efforts by the central bank to prop it up.

It initially rallied and was trading at around 58 to the dollar and 72 to the euro - the levels of last Friday - after closing at 60.65 to the dollar and 75.10.

The Kremlin has remained silent this week on the issue of the rouble's crash, which took it to historic lows of 80 to the dollar and 100 to the euro.

The government this week said it was preparing a set of measures to boost the rouble, which Mr Putin is expected to outline at 9am GMT.

The rouble crash has led to Russians cashing in their savings and rushing to buy expensive goods ahead of expected price hikes.

The slump in the rouble has largely been attributed to the global all fall in oil prices and the impact of Western sanctions imposed over Ukraine.

But some observers also blame a lack of economic strategy by Mr Putin during his 15 years in power.