Russia's ruble is sagging against other currencies, complicating the Kremlin's efforts to keep consumer inflation under control with one hand even as it overheats the economy with spending on the war against Ukraine with the other.
The official central bank rate for Friday was set at 109 to the U.S. dollar, meaning the ruble is worth less than a penny in dollar terms. At that rate, the ruble was bouncing back from lows around 114 to the dollar touched earlier in the week.
