Russia's Central Bank has raised interest rates overnight to help prop up the ailing Russian currency.
The Bank of Russia has raised the key rate by 8 per cent in less than two weeks to fight what it describes as 'substantially increased rouble depreciation risks and inflation risks'
The Rouble fell to a record low 64 against the dollar on Monday.
This followed weeks of decline for Russia's currency as the economically energy dependent country heads towards recession in 2015.
On January 1st 2014, one dollar would have bought you 32.855 roubles.
The rouble's collapse is largely linked to falling oil prices and western sanctions imposed on Russia for the country's invasion of Crimea, Ukraine.