Russia's central bank said on Wednesday it would stop foreign currency purchases in order to ease pressure on the financial markets after the rouble weakened beyond 110 to the U.S. dollar, down by one-third since early August.

Currency falls beyond 110 to the US dollar for first time since just after Ukraine invasion, Russian state media report.

The Russian rouble fell beyond 110 to the U.S. dollar, sparking concerns of economic instability. Analysts predict further decline, prompting calls for governmental intervention. Sanctions and market volatility exacerbate the situation,

The Russian rouble weakened beyond the 110 mark to the U.S. dollar on Wednesday, a threshold that some analysts believe could prompt authorities to take action to support the currency, which has fallen by more than 24% since early August.

The Russian rouble rose 2% against the U.S. dollar on Friday after the central bank and government joined President Vladimir Putin in verbal interventions aimed at calming forex market turmoil triggered by the latest round of U.S. sanctions.

The Russian rouble has fallen by over 24% since early August and is likely to continue weakening. Source: Reuters, citing economic analysts Details: The key driver of the rouble’s depreciation is significant capital outflow from Russia's stock market,

The Russian rouble weakened beyond the 110 mark to the U.S. dollar on Wednesday, a threshold that some analysts believe could prompt authorities to take action to support the currency, which has fallen by more than 24% since early August.