(QHA) -

Vladimir Putin's spokesman says the Russian president does not plan to make any "special statements" about the steep fall of the ruble or the state of Russia's economy.

Russian media cite Dmitry Peskov as saying on December 16 that Putin is in constant contact with his government about the situation but does not plan any emergency meetings or statements.

Peskov said Putin is not likely to address the issue publicly before his annual press conference on December 18.

The ruble continued its decline on December 16 despite the central bank's bid to shore it up with a massive interest rate hike, and was trading at about 71 per dollar and 89 per euro early on December 17.

The ruble has fallen nearly 20 percent this week.

Its value against the U.S. dollar has halved since the start of the year, largely due to a slump in oil proces and Western sanctions against Russia over its interference in Ukraine.