REUTERS, Moscow

The Russian rouble extended the previous session’s sharp slide on Wednesday, slumping to its lowest since late May against the dollar and euro and heading back towards levels the government prefers as intervention speculation swirled.

The rouble hit more than seven-year highs a week ago, but has shed over 20 per cent since then against the greenback as several officials voiced concerns about its strength, which dents Russia’s income from exporting commodities and other goods priced in dollars and euros.

By 0726 GMT, the rouble was 4.5 per cent weaker against the dollar at 63.90 after touching 64.9525, its weakest point since May 30.