The Russian currency has continued to slide, reaching its lowest value for 16 months - meaning that 100 roubles is now worth about one American dollar
The economic backdrop has worsened in Russia - as the government spends more than it earns, and after Western countries imposed sanctions over the invasion of Ukraine
Russia's central bank has announced it will meet tomorrow morning to discuss interest rates, with a decision expected at 10:30 local time (0830 BST)
On the front line, Ukrainian troops have taken back 3 sq km (1.2 square miles) near the battle-scarred eastern city of Bakhmut over the last week, says the deputy defence minister
Meanwhile, two people were killed overnight when a town in the Zaporizhzhia region was hit with missiles - and the port city of Odesa also came under attack
And Ukraine has condemned its enemy's "provocative" actions, after Russia boarded a grain ship in the Black Sea over the weekend
We'll be closing up shop on our live coverage of the rouble's exchange rate slide and the latest from Ukraine shortly, thanks for joining us.
The page's writers today were Barbara Tasch, Laura Gozzi, Adam Durbin, Krys Gajda, Jamie Moreland, Ali Abbas Ahmadi, Malu Cursino and Aoife Walsh. It was edited by James FitzGerald, Emily McGarvey, Heather Sharp and Alexandra Fouché.
Here's the latest from Russia and Ukraine:
Image source, ReutersPresident Volodymyr Zelensky has been visiting troops near the front line in the eastern region of Donetsk.
He met troops involved in attacks on the section of the front line facing Soledar, a Russian-held town north of Bakhmut.
In a post on his Telegram account, Zelensky said he spoke to a brigade commander about important issues front line soldiers face, including the situation on the ground near Bakhmut and the need for training, weapons and equipment.
Zelensky says while he gets daily general updates on the war, he also wanted to visit brigades individually to understand the specific problems they face.
In his nightly address on Sunday, he praised the "warriors" on the front line and acknowledged the role of doctors, nurses and emergency responders.
"Every time we have something to thank our warriors for, Ukraine becomes closer to justice, closer to victory - and Russian murderers on our land become closer to destruction."
One of the major challenges Ukraine faces during its current counter-offensive is dealing with Russia's anti-personnel and anti-tank mines - which are hidden under the ground and detonate on impact.
Ukrainian forces have been using innovative means to disable these mines.
One of them is attaching a device to the front of an excavator to safely detonate them.
Image source, ReutersA volunteer holding a remote control tests the demining device mounted on an excavator
Image source, ReutersHere we see the front of the demining device more closely
Image source, ReutersThe testing was taking place at the weekend near Kryvyi Rih in Ukraine's Dnipropetrovsk region
Theo Leggett
International business correspondent
Image source, EPAThe Bank of Russia has a tricky tightrope to walk
Russia’s central bank is to hold an unscheduled policy meeting on Tuesday. The announcement came after President Vladimir Putin’s economic adviser blamed “soft monetary policy” for the current weakness of the rouble.
That’s raised the prospect of a possible interest rate hike sooner rather than later.
You might remember that in the immediate aftermath of Russia’s invasion of Ukraine, and the introduction of international sanctions early last year, Russia’s currency plunged to record lows - much lower, in fact, than it is today.
The central bank responded by more than doubling interest rates - from 9.5% to 20%. That, along with a raft of government measures, stabilised the rouble and allowed it to regain lost ground.
Across the rest of the year, the bank allowed the cost of borrowing to fall back steadily, to a floor of 7.5%, in an effort to boost the war-hit economy.
The government clearly believes that process has gone too far, and it’s putting pressure on the central bank to ratchet the cost of borrowing up once again.
It has already done so once - with a one percentage point hike in July. Now, another increase may be on the cards.
But the bank has a tricky tightrope to walk.
If the currency falls too far, the cost of imported goods will rise, pushing up inflation and the cost of living.
But if rates go up too far, too fast, it could stifle growth in an economy already being squeezed by sanctions.
Image source, ReutersA Polish soldier is seen on a multiple-rocket launcher M142 Himars
The United States will provide a new aid package for Ukraine worth $200m (£158m), US Secretary of State Anthony Blinken has announced in a statement, external on Monday.
The package includes, external munitions for Patriot air defence systems, artillery rounds, anti-armour weapons, mine-clearing equipment, additional ammunition for High Mobility Artillery Rocket Systems (Himars) as well as demolitions munitions for obstacle clearing.
Blinken said until Russia ended the war it started, by withdrawing its forces from Ukraine and stopping its brutal attacks, the US and its allies would stand united with Ukraine, “for as long as it takes”.
The US Department of Defense (DoD) said the package was the 44th tranche of equipment to be provided to Ukraine over the last two years. Since February 2022, the US has invested more than $43bn in security assistance to Ukraine, the DoD added.
Footage from the State Emergency Services in Ukraine shows the ferocity of the fire at a supermarket in Odesa following Russian drone and missile attacks overnight.
Kyiv said it intercepted the drones and rockets but falling debris damaged buildings.
Three supermarket workers were injured.
Laura Gozzi
Live reporter
Image source, ReutersElectronic boards displaying currency exchange rates - and indeed exchange offices - are a common sight in Russian cities.
This means Russians are well used to keeping an eye on the fluctuations of their currency against more stable currencies like the US dollar or the euro.
As such, seeing the rouble's value fall as low as 100 per US dollar is certain to have had a considerable psychological effect on ordinary Russians.
On Monday morning, social media channels were awash with posts captioned "when you wake up and check the value of the rouble" featuring various animals looking cartoonishly spooked.
Many Russians closely tracked the fluctuations of the market on Telegram throughout the day.
When, on Monday afternoon, news broke that the rouble had made modest gains, rising to 99 to the dollar, several users reacted with hearts and thumbs-up emojis.
But many others noted the improvement was meagre, with one popular satirical channel sarcastically commenting: "Take that, damn green paper! Witness how we rise up from our knees!"
The fall of the rouble's exchange rate against the US dollar should not be viewed in the same way as a slide in the currency value for a "normally functioning economy", a Moscow-based expert has told the BBC.
Chris Weafer, founding partner of Eurasian consultancy firm Macro-Advisory, says the Russian currency is being "entirely managed" by the country's central bank and finance ministry.
He says last year's economic priority was keeping the rouble's value as high as possible to tackle the impact of rising prices in Russia, but officials have now chosen to devalue the currency as a means of balancing government spending.
Weaver says this move was brought in over Western sanctions significantly reducing the amount of money Russia generates from exporting goods - particularly fossil fuels, which are typically bought and sold in dollars.
The exchange rate slide therefore reflects these decisions made by officials rather than a specific sign of an "imminent crisis" or a broader collapse of Russia's economy, he adds.
Read our news story about the Russian rouble falling to a 16-month low against the US dollar here.
A Russian KA-29 helicopter seen over the intercepted cargo ship
Earlier, we reported on how Russia said it had intercepted a cargo vessel, the Sukru Okan, in the Black Sea on Sunday. BBC Verify has confirmed some of the details of the incident from a video being shared on social media.
Pre-existing images of the Sukru Okan match those of the vessel seen in the video. The helicopter hovering over the cargo ship, despite blurry footage, is visibly a Russian KA-29 - a type that would be carried on the Vasily Bykov patrol boat that Russia says was involved.
We also know from ship-tracking data that in the time leading up to the incident, the Sukru Okan gave frequent updates of its movements off Turkey’s Black Sea coast. It then began posting these updates much more intermittently - around the time the Russians claim to have boarded it.
The vessel has changed its intended destination to Sulina in Romania, and it is currently off the port there. Before the incident, its destination was set as the Ukrainian port of Izmail, but it’s not clear if it will continue on to Ukraine.
Russia's central bank will meet tomorrow to discuss the key interest rate, the Board of Directors of the Bank of Russia said in a statement on Monday.
The bank, whose key rate is currently 8.5%, had been scheduled to hold its next meeting on rates on 15 September.
The decision will be announced tomorrow at 10:30 Moscow time (07:30 GMT).
Image source, ReutersThe Russian Defence Minister, Sergei Shoigu, has been speaking at the Army 2023 Military Expo - an event held in the Moscow region, designed to showcase Russian artillery systems.
"In real-life scenarios, our weapons show reliability and effectiveness," he said, according to Reuters news agency.
He added that "much-hyped" Western weaponry had shown itself to be "far from perfect" in the course of the fighting in Ukraine.
"The Russian weapon-making industry not only quickly adapted to working under fierce sanctions pressure, but also, its power grew many times over in some areas," he says.
Speaking earlier in a pre-recorded address, Russian president Vladimir Putin said Russia was ready to cooperate with other countries on military technology - with "everybody who defends their own national interests" and those "who think it is principally important to build an equal security system that would defend every country".
Image source, ReutersAs we reported earlier, Ukraine has claimed to have recaptured territory around Bakhmut.
It's a city once known for its sparkling wine and salt, but which has now become a symbol of both wanton destruction and fierce resistance.
The now-devastated city in eastern Ukraine has been the site of the longest and possibly bloodiest battle of Russia's invasion so far. Estimates put the death toll in the tens of thousands.
Bakhmut was subjected to a savage bombing and shelling campaign over the winter, as Russian troops and mercenaries from the Wagner group ground down Ukrainian defences to capture it in May - leaving little of the city standing in their wake.
Military analysts have questioned the area's strategic value to either side, but Bakhmut has become a symbol of resistance for Ukraine and a rare example of battlefield and propaganda victory for Russia.
Ukraine has been attempting to reclaim the city for several months, including through the use of elite special forces sniper known as the "Ghosts of Bakhmut" - who you can read about here.
As a reminder, one of the main developments we're covering today is the Russian rouble plummeting to its lowest value against the US dollar for more than a year.
The exchange rate of Russia's currency has weakened to the point where you would need more than 100 roubles to get a single dollar back - compared to about 60 roubles a year ago.
Pressure is building on the Russian economy generally, with the cost of goods imported into the country rising faster than the money it makes from exports.
That's on top of growing military spending to fund the invasion of Ukraine.
Western sanctions have targeted Russia over the war and the strength of the rouble has fluctuated significantly - but the overall value has dropped by about a quarter since February 2022.
The rouble plummeted after war first broke out, but was quickly bolstered by restrictions on foreign currency transitions - as well as exports of oil and natural gas at inflated prices.
As a result of the rouble's fall, Russia's central bank has said that a key interest rate increase is possible - which would raising the cost of borrowing in Russia - while also saying it sees no wider threat to the economy.
If you'd like to read more about the trials and tribulations of the rouble, click here.
James Waterhouse
Ukraine correspondent in Kyiv
"We decide what ships go in and out of Ukraine" is Moscow’s not-so-subtle message after intercepting a cargo vessel on its way to the southern port of Izmail.
The ship was forced to stop yesterday after a Russian warship fired warning shots and soldiers boarded it from a helicopter.
The Kremlin called it an "inspection". Ukraine has opted for "a breaking of international law".
This is the first time a merchant ship has been targeted after the collapse of a major grain deal last month.
It had allowed Ukraine to export grain through an agreed route in the Black Sea.
Kyiv subsequently announced a new "humanitarian corridor" without any acknowledgement from Russia.
It’s now clearer what the Kremlin thinks about allowing vessels through the Black Sea.
You can read more about Russia's tactics after refusing to renew the grain deal here.
Another development over the weekend was the boarding of a grain-shipping vessel in the Black Sea by a Russian warship on Sunday - the first instance since the collapse of the Black Sea Grain deal in July.
According to the Russian Defence Ministry, the patrol ship Vasily Bykov fired warning shots on the Sukru Okan after it failed to respond to challenges.
After the collapse of the grain deal guaranteeing safe passage for grain exports, Moscow unleashed waves of airstrikes on Ukraine's major grain ports and storage centres and said all foreign ships in the western Black Sea would be considered possible military targets.
Once the Sukru Okan - a Turkish commercial ship registered in the Pacific nation of Palau - was boarded and searched by the Russian military on Sunday, it was able to continue on its way to port.
Following the incident, Ukraine condemned Russia's "provocative" actions as being against international law and called for the global community to do more to protect shipping in the Black Sea.
Image source, .At least 203 buildings were damaged following attacks in the southern port city of Odesa, the mayor's office said in a Telegram post, external.
Among the buildings damaged were four medical institutions including a maternity ward, Odesa's mayor press service added, external.
Ukrainian forces have said Russia launched a wave of drone and rockets attacks against the city of Odesa overnight.
Kyiv said it intercepted the drones and rockets but falling debris damaged buildings.
Footage showed damage to a shopping centre in Odesa
Will Vernon
Reporting from Moscow
Image source, Getty ImagesIn a market in central Moscow, I ask shoppers whether the fall in the rouble will affect them.
"Of course it will affect me, just like everything that’s happening now," says Danil.
"The economy is in the worst possible state. It’s a collapse. Nothing surprises me anymore.”
A lady with bleached-blonde hair tells me: “The prices are going up. But I think the [dollar rate] is a temporary thing. It’ll go down again.”
Then I meet a man called Maxim, who insists that the exchange rate has no impact on him whatsoever.
I ask him whether he has trust in the authorities to manage the economy.
"Yes of course,” he says, “and I have just signed a contract [with the Russian military]," he adds.
"In two weeks I am going to the special military operation [in Ukraine], as a volunteer soldier.”
There is no panic in Russia. There are no queues outside banks here.
After 18 months of war and isolation, Russians are getting used to bad news. This is the most sanctioned country in the world.
But the economy has not collapsed - as many in the West had predicted. The Kremlin still has sufficient resources to maintain tight control over the country.
Will Vernon
Reporting from Moscow
If you switch on Russian state TV today, you’d be forgiven for thinking that the economy is booming.
A presenter on the Rossiya-24 channel did admit that the US dollar exchange rate has reached an eye-watering 101 roubles - but, he went on to insist, the Russian economy is still doing marvellously well.
Russian GDP - up! Oil and gas revenues - growing!
And in today’s copy of Komsomolskaya Pravda, the biggest-selling daily newspaper in Russia, an article on page three declared: "The Russian economy takes a sharp upward turn."
But the plummeting rouble will still hurt. Economists say it will likely lead to inflation, while foreign travel will become more expensive to ordinary Russians.
One travel agency owner in Moscow told me he expects many clients will now opt for taking a holiday inside Russia, instead of travelling abroad.
But going overseas was already very problematic for people here, as Western sanctions against Russia’s aviation industry make foreign travel very difficult.
Many countries have stopped issuing visas for Russians, and financial restrictions mean their bank cards don’t work in the vast majority of foreign countries.
As Ukraine emerges from more missile and drone attacks, here are the latest updates:
Image source, EPAA wrecked supermarket in Odesa after a Russian attack