MOSCOW: Russia's rouble fell on Monday, following oil prices lower after OPEC members failed to agree on output targets to reduce a global glut of Russia's main export.
At 0720 GMT, the rouble was 0.6 percent weaker against the dollar at 68.52 and lost 0.6 percent to trade at 74.47 versus the euro.
Brent crude oil was down 0.4 percent at $42.8 a barrel, close to its lowest level this year.
By ditching output limits at Friday's meeting, analysts said OPEC was sending a message to other producers such as Russia or North American shale drillers that it was willing to accept low oil prices to defend market share.
That has bearish implications for the rouble.
Market attention will also turn to a monetary policy decision by Russia's central bank on Friday, Dec. 11.
Economists are split on whether the bank will resume an easing cycle. Some think price pressures from a ban on some Turkish imports and a possible rate rise by the US Federal Reserve mean rates will stay on hold.
Russian share indexes were mixed on Friday, reflecting moves on the currency market.
The dollar-denominated RTS index was down 0.2 percent to 809 points, while its rouble-based peer MICEX traded 0.4 percent higher at 1,762 points.
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