The Russian Ruble declined against the U.S. dollar in the European session on Friday, after Russia's central bank lowered its key interest rate, as widely expected.

The Board of Directors, led by Governor Elvira Nabiullina, decided to cut the key rate by 25 basis points to 6.00 percent, the Bank of Russia said in a statement.

Policymakers said inflation slowdown is overshooting the forecast. Disinflationary risks still exceed pro-inflationary risks over the short-term horizon, the bank said.

The Russian Ruble dropped to a 4-day low of 63.96 against the greenback from yesterday's closing value of 63.31. If the Russian currency drops further, 68.00 is likely seen as its next support level.

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