Russian dolls for sale near Red Square, Moscow. 15 Dec 2014
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Russian rouble in free-fall despite shock 17% rate rise

Russia's rouble went into free-fall in Tuesday trading, falling repeatedly to hit record lows, despite the central bank's dramatic decision to raise interest rates from 10.5% to 17%.

The rate rise was meant to strengthen the currency.

It helped it to 58 to the dollar early on Tuesday, but the dollar at one stage bought as many as 79 roubles.

The BBC's World Editor John Simpson reports from Moscow.

  • 16 Dec 2014
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