(Reuters) – The Russian rouble fell sharply on Monday in jittery trading, reversing some gains from the week before, as the central bank relaxed temporary capital control measures aimed to limit a currency drop.

Friday night, the central bank stated that it was scrapping a 12% commission to buy foreign currency via brokerages starting April 11. It also lifted a temporary ban for individuals on selling foreign money cash beginning April 18.

From the 71 Russian rubles hit Friday, which was its highest since Nov. 11, the rouble dropped to 82.09 against a dollar on the Moscow stock exchange.

At 0727 GMT, the rouble was almost 5% less than at dollar 79.90 and 4.3% against euro 86.35.

Alor Brokerage stated that the decision to eliminate the 12% FX commission means that speculators can trade again. They also noted market participants were inclined to lock in small profits.

Even though the key rate was cut unexpectedly by the central bank from 20% to 17%, the ruble still has support.

ITI Capital analysts estimated that Russia earns approximately $1.4 Billion per Day in export revenues. Given Russia’s capital control measures and shrinking imports, the rouble might strengthen even more.

Russian OFZ bonds supported by the cut of central banks. This weekend, the finance ministry announced that it would not borrow from local and foreign debt markets.

Anton Siluanov (Finance Minister) also stated that Russia will pursue legal action in the event of a West-directed attempt to forbid it from defaulting on its sovereign debt.

The yields of 10-year OFZs (which move in the opposite direction to their prices) fell to 10.62% Monday. This was the lowest they had been since February 22, when Russia launched what it called “a special military operations” in Ukraine. It triggered unprecedented Western sanctions.

Stock market: The dollar-denominated RTS Index fell 4.5% to 1,031.4. However, the MOEX Russian index, which is based on roubles gained 0.8% and was 2,614.0 points supported by the slide in the rouble.