Russia's currency has slumped to a record low, trading at 82 rubles per U.S. dollar and 89.55 per euro.
The ruble's previous all-time low was 80.10 per dollar in December 2014.
The declining value of the ruble comes as global oil prices continued to fall, trading on January 20 at around some $27.45 per barrel and even briefly going under $27 per barrel.
The ruble also is under pressure from economic sanctions that the West has imposed against Russia in response to its support for pro-Russian separatists in eastern Ukraine.
World oil prices plunged after Iran announced a few days ago that it would begin producing hundreds of thousands of barrels per day in an already oversupplied market.