Concerns over Russia's oil embargo pushed the ruble to a 7-month low earlier in the week.
The currency posted its biggest daily decline on Monday, falling 3.3% to trade at around 69.00 against the US dollar.
The ruble has fallen more than 10% this month fueled by fears that oil embargoes and price caps will reduce Russia's export revenue, hurting the country's income.
The fallout comes as President Vladimir Putin visits Belarus, sparking fears that tensions will escalate if the former Soviet ally joins a new ground offensive on Ukraine.
The impact of the war not only affected the currency, but also affected the Russian stock market.
Almost 10 months on, the equity market has yet to recover from the sharp drop experienced when the invasion of Ukraine began in February.
This has made the Russian stock market the worst performer in the world even though the economy has been partly more resilient to sanctions imposed by the United States and its allies.
