MOSCOW: The US dollar has fallen to below 34 Russian roubles for first time since Jan. 23.

The rouble weakened to 36.71 to the dollar in mid-March as international tensions around Ukraine escalated, but has since recovered ground.

Late on Monday, Ukraine's eastern pro-Russian rebels agreed to observe a ceasefire with government forces at least until Friday morning to allow peace talks to proceed.

At 0615 GMT the rouble was trading at 33.95 against the dollar.