Rouble weakens past 95 vs dollar amid capital controls speculation

The Bank of Russia jacked up its key rate to 12% on Tuesday, an emergency move to try and halt the rouble's recent slide past the symbolic 100 threshold, but analysts agreed that more measures may be needed to return the rouble to the 80-90 range authorities have deemed acceptable. Beyond rate hikes and capital controls, Moscow has some other options, though none particularly favourable. Brent crude oil, a global benchmark for Russia's main export, was up 0.1% at $83.48 a barrel.