MOSCOW (Reuters) -Russia's central bank said on Wednesday it would stop foreign currency purchases in order to ease pressure on the financial markets after the rouble weakened beyond 110 to the U.S. dollar, down by one-third since early August.

Currency falls beyond 110 to the US dollar for first time since just after Ukraine invasion, Russian state media report.

The Kremlin has tried to reassure Russians they will not be affected by the sudden collapse of the rouble, which has plunged to its lowest level since the invasion of Ukraine.

The Russian rouble weakened beyond the 110 mark to the U.S. dollar on Wednesday, a threshold that some analysts believe could prompt authorities to take action to support the currency, which has fallen by more than 24% since early August.

The Russian rouble has fallen to its lowest level since the start of the war in Ukraine as a fresh round of sanctions hammer the currency.

MOSCOW: The Russian rouble rebounded on Thursday from a more than 7% slide against the US dollar in the previous session after the central bank said it would stop buying foreign currency to stabilise financial markets.

The Russian rouble fell beyond 110 to the U.S. dollar, sparking concerns of economic instability. Analysts predict further decline, prompting calls for governmental intervention. Sanctions and market volatility exacerbate the situation,

The Russian rouble continued to slide, dropping to its lowest since March 2022 against both the dollar and the yuan, and the finance minister indicated the government did not object to the currency's weakness,

The Russian rouble has fallen by over 24% since early August and is likely to continue weakening. Source: Reuters, citing economic analysts Details: The key driver of the rouble’s depreciation is significant capital outflow from Russia's stock market,