MOSCOW: The rouble dropped further on Friday as investors continued to exit emerging market currencies, and Russian stocks fell after poor Chinese manufacturing data hit global markets.
At 0800 GMT the rouble was down 0.5 percent to 39.99 against the dollar-euro basket used to gauge central bank interventions.
The rouble was down the same amount against the dollar, to 34.30, and the euro, to 46.94. Over recent days emerging market currencies have been hammered on investor concern about the US Federal Reserve's policy of reducing its monetary stimulus.
The rouble has fallen every day since Jan. 16 and it is down 4 percent against the basket since the start of the year. Russian policymakers have played down the rapidly-depreciating currency, which also reflects the central bank's moves towards a floating exchange rate regime.
"I don't see problems for now," Finance Minister Anton Siluanov told Ekho Moskvy radio station on Thursday.
"This is the policy of the central bank, of the financial authorities, to make the exchange rate more and more flexible.
The policy of the central bank is absolutely correct."
Russian stocks were also down on Friday, following global markets which have been hit by weak Chinese manufacturing data.
The rouble-denominated MICEX index was down 0.5 percent to 1489.1, while the dollar-denominated RTS index fell 1 percent to 1367.3.
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