Ruble’s Rally Stumbles After Interest-Rate Cut

A rally within the Russian ruble that made it the world’s finest performing main foreign money reversed itself for a second day Friday following a rare fee lower by the nation’s central financial institution.

Russia’s foreign money fell 4.4% towards the greenback in offshore buying and selling Friday, building on Thursday’s 6.7% decline. That extends the ruble’s weekly loss to about 8.3%, on tempo for its greatest weekly decline for the reason that second full week of the conflict.