russian rouble banknotes are seen in this illustration picture taken in moscow september 30 2014 reutersmaxim zmeyev london march 7 reuters  russias rouble tumbled to a fresh record low in thin offshore trade with local markets closed for trading until at least wednesday the rouble weakened to 1309338 to the dollar after closing at 121037 on friday according to refinitiv data  on the ebs trading platform the rouble softened to as low as 14000 against the dollar bidoffer spreads were between 10 and 15 cents pointing to an increasingly illiquid market trading on the moscow exchange moex is scheduled to be closed until wednesday for a bank holiday stocks last traded on feb 25 on moscows bourse irts imoex the rouble has lost more than 40 its value against the greenback since the start of the year with losses sharply accelerating since russia invaded ukraine on feb 24 which sparking sweeping sanctions from western capitals isolating the country from international financial markets it has become very difficult to trade the rouble after the sanctions said aaron hurd senior portfolio manager currency at state street global advisors liquidity has vanished and markets have become very volatile rouble lira implied volatility gauges  a measure of demand for options on the currency rising or falling against the dollar  have stayed near record highs hit last week with the oneweek gauge above 84 and the one month one above 94  the roubles collapse has also hit trading volumes turnover on the russian currency on ebs fell more than 80 on friday compared to the end of february reporting by karin strohecker additional reporting by saikat chatterjee editing by edmund blair