Pedestrians walk under a board listing foreign currency rates against the Russian ruble outside an exchange office in central Moscow, on Dec. 17, 2014.
Russia's rouble fell more than 6 percent against the dollar on Monday, dragged down by weaker oil prices in volatile holiday trade.
At 1436 GMT, the rouble was 6.4 percent weaker at 59.59 roubles to the dollar and 3 percent weaker against the euro at 70.74.
Oil prices, which have declined more than 50 percent from peaks in June last year, hit a 5 1/2-year low as doubts about global growth fanned fears of a supply glut.
The Russian currency fell around 40 percent against the dollar last year, hurt by the falling oil price and by Western sanctions over Ukraine, which made it harder for Russian companies to borrow abroad and spurred demand for dollars.
The dollar also firmed against other currencies, with the euro falling to a nine-year low against the U.S. currency as investors bet the European Central Bank would soon begin a programme of buying bonds, so-called quantitative easing.
Russian shares were mixed on Monday, largely reflecting moves in the rouble.
The dollar-denominated RTS index was down 4.9 percent at 752 points. The rouble-based MICEX traded 1.8 percent higher at 1,422 points.
Russian stock market opens with drop for MICEX, RTS indexes as oil prices decline
The MICEX stock index fell 0.4% to 1391.67 after the first minute of trading and the RTS was down 2.6% at 770. The majority of ruble-denominated blue chips on the Moscow Exchange fell within 3.3%.
The Russian stock market opened the week with a 0.4%-2.6% drop for the MICEX and RTS stock indexes as oil prices continued to fall and the ruble exchange rate declined on Monday morning.
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