A rally in the Russian ruble that made it the world’s best performing major currency reversed itself for a second day Friday following an extraordinary rate cut by the country’s central bank.
Russia’s currency fell 2.7% against the dollar in offshore trading Friday, building on Thursday’s 6.7% decline. That extends the ruble’s weekly loss to about 6.8%, according to data from Tullett Prebon, its biggest weekly decline since the second full week of the war.
