The Russian currency has fallen against the dollar and the euro in early trading, hitting rates last seen in March.

The ruble fell to 62.35 to the dollar and 68.51 to the euro on the Moscow Exchange early on August 3.

It is the first time since March 16 that the 62-ruble level was surpassed against the dollar.

The euro-ruble rate has not been this high since early March.

The ruble-dollar rate closed at about 61.7 at the close of trading on July 31. The euro-ruble rate was just under 68 rubles on July 31.

The weakening of the ruble is often tied to lower oil prices.

Based on reporting by Interfax and TASS