Reports that Russia would consider capital controls led to a run on the rouble and briefly broke the central bank’s band.

The Bank of Russia targets a basket of 45% euros and 55% dollars in a band that extends to 44.40. That band briefly broke and sent the basket to an all-time high of 44.52. They have pledged to sell in unlimited quantities above that level and it has quickly fallen back below the level.

USD-EUR vs RUB

USD-EUR vs RUB

Update: Russia has denied the report.