The ruble has come off its lows from earlier in the week after the central bank halted all foreign currency purchases for the remainder of the year, but it remains battered—and resources for preventing a further collapse are shrinking.
On Friday, the central bank set the official rate at about 108 to the U.S. dollar. While that’s improved from Wednesday’s rate of 114 on the spot market, that still means one ruble is worth less than a penny.
