The Russian central bank said it was prepared to support the ruble in foreign exchange markets after it tumbled to new lows on Friday.
The ruble hit its weakest-ever level against the U.S. dollar early on Friday, sliding to 48.6, before recovering to trade at 46.2 within a few hours—1.3 percent higher on the day.
The central bank said in a statement cited by Reuters that it thought the currency was now undervalued and that the situation on the foreign exchange market was causing concern among the population.
It added it was prepared to increase forex interventions "at any moment" to support the ruble, and could also use other financial instruments.
A decision on additional interventions to support the currency could be taken within several minutes and without prior warning, the bank said.