The Moscow stock exchange on Monday dropped by more than four percent as Russia's energy-dependent economy reels from low oil prices and fluctuations on the Asian market. 

The dollar-denominated RTS index had dropped by 4.16 percent as of 0725 GMT, while Russia's battered ruble stood at 76 against the dollar and over 83 against the euro for the first time since the currency slump of December 2014.