The rouble nosedived on Monday, suffering its worst daily fall since Russia’s 1998 crisis amid renewed fears over the impact of tumbling oil prices on the country’s economy. The currency hit Rbs52.38 against the dollar in Moscow morning trading, down almost 6 per cent from its Friday close. This takes its decline since the beginning of the year close to 40 per cent. The plummeting currency raises the pressure on the central bank to resume market intervention, from which it had abstained since floating the rouble in early November. On November 10, the Bank of Russia abolished the band in which the rouble had so far traded and ended the daily interventions through which it had been propping up the exchange rate. But the central bank said it was reserving the right to intervene if it saw a risk to financial stability. Analysts said that while the bank’s move […]