NEW YORK (MarketWatch) — The ruble moved off record lows, but remained weaker against the U.S. dollar Monday, as oil prices recovered slightly.

The ruble fell 9% against the greenback last week, and was down nearly 6%, a value of just 1.86 cents, at one point Monday. It has fallen by 40% against the dollar so far this year. Its decline forced the Russian central bank to allow the currency to float freely on Nov. 10, sparing it the obligation of buying large quantities of rubles to support the currency during severe bouts of selling.