Russia kept its interest rate steady on Friday but announced it wouldn't rule out tightening monetary policy if inflation risks rise, after a month in which the ruble dropped to record lows as oil prices deteriorated.
January marked a difficult month for the Russian economy, which saw its currency decline in near lockstep with the falling oil price, sending the ruble to fresh record lows of 85 rubles per dollar last week.
The ruble was trading near 75 to the U.S. dollar after the central bank's first monetary policy decision of 2016.