Russian rouble hits new low against the dollar and euro

                      
                      President Vladimir Putin has received permission to deploy Russian troops in 
                      Ukraine.

Russia's rouble has fallen to a fresh all-time low against both the dollar and the euro after the political turmoil in Ukraine intensified.

The rouble fell 2.5% to 36.5 roubles against the dollar and 1.5% against the euro to 50.30.

Stocks on Moscow's MICEX main stock index also fell, dropping 9% in early trading.

The sharp falls came as Russia's central bank hiked its key lending rate on Monday to 7% from 5.5%.

"The decision is directed at preventing risks to inflation and financial stability associated with the increased level of volatility in the financial markets," the central bank said in a statement.