MOSCOW - The Russian ruble rapidly lost eight percent Monday, falling to 53.29 to the dollar and a 66.50 to the euro in afternoon trading.
Pedestrians walk under a board listing foreign currency rates against the Russian ruble outside an exchange office in central Moscow, on November 7, 2014
The slide in the Russian currency has accelerated in recent weeks as the price of oil upon which the government is highly dependent for budget revenue has fallen to five-year lows, with the ruble losing about a quarter of its value in the past month against the dollar and euro.