Earlier, the rouble was around 2.7 per cent stronger against the dollar at 59.85 and gained 2.7 per cent to trade at 73.65 versus the euro.

The rouble’s recovery is in contrast to intense selling pressure earlier this week, when the rouble at one stage had fallen about 20 per cent against the dollar on the day before rising again, threatening the relative financial stability on which president Vladimir Putin has built his popularity.