Russian Ruble's Slide: A Near 7-Week Low Against the Dollar

The Russian rouble briefly weakened past 100 against the dollar before recovering slightly, as foreign currency outflows and a shrinking current account surplus weighed on the currency. The rouble's previous slide into triple digits in August prompted an emergency rate hike by the Bank of Russia, and authorities discussed reintroducing controls to support the currency. Despite the recovery, analysts expect the rouble to face continued pressure in the absence of new support measures.