Rouble concern not yet over

But it's too early to say Russia needs China's financial assistance to tide over currency crisis despite fears of spillover effect on world economy

The plunging rouble has dealt a serious blow to the Russian economy despite the arrest in its tide in the last few days.

The rouble plummeted 14 percent last week, following a record one-day decline of more than 10 percent, the worst since the Russian financial crisis of 1998. This happened despite the Russian central bank's move to raise its benchmark interest rate to 17 percent from 10.5 percent on Dec 15, curb grain exports and impose informal capital controls.