Rouble slumps against dollar

MOSCOW - Russian banks sold the rouble down 6 per cent to the dollar amid signs of rising inflation and worsening state finances. The central bank watched as the rouble slumped to 3,081 to the dollar from Friday's 2,896 on Moscow's Interbank Exchange. 'Markets are very nervous,' said Maarten Pronk, head of ING Bank in Moscow. 'If the government and central bank do not outline their policy, people will start thinking the rouble is in a free fall.' Reuter