Russia’s central bank to hold extraordinary meeting after rouble falls to 16-month low

Bank will discuss interest rate after high spending on war in Ukraine and drop in export revenues put further pressure on Russia's economy

Russia's central bank has announced it will hold an extraordinary meeting on Tuesday to discuss the level of its key interest rate after the rouble fell to its weakest point in almost 17 months.

The currency has been steadily losing value since the beginning of the year and slid past the psychologically important level of 100 to the dollar on Monday morning.