This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine

MOSCOW, July 1 Reuters The Russian rouble plunged more than 6 against the dollar on Friday to its weakest level in 10 days, while shares in Gazprom extended losses after the gas giant cancelled dividend payments, pressuring Russian stock indexes.

As of 1019 GMT, the rouble was 5.9 weaker against the dollar at 54.50 , earlier hitting its weakest point since June 21 at 54.9250. The currency scaled its highest level in more than seven years on Wednesday.

The unit lost 5.9 to trade at 56.85 versus the euro .

The likelihood of the rouble strengthening past 50 to the dollar has eased, said Dmitry Polevoy, head of investment at Locko Invest, although high commodity prices were supporting the Russian currency.

The rouble has become the world39;s bestperforming currency this year, boosted by measures taken to shield Russia39;s financial system from Western sanctions imposed after Moscow sent troops into Ukraine on Feb. 24.

The measures have included restrictions on Russian households withdrawing foreign currency savings.

The rouble39;s strength has raised concerns among officials and exportfocused companies because it dents Russia39;s income from selling commodities and other goods abroad for dollars and euros.

Expectations that Russian authorities could resort to foreign currency interventions were putting pressure on the rouble, Polevoy said.

DIVIDEND FALLOUT…