Rouble Weakens After Sberbank Predicts Year-End Decline

The Russian rouble, the country's currency, lost some value against the U.S. dollar and China's yuan.

This happened because the head of Russia's largest bank, Sberbank, said the rouble is likely to get weaker by the end of the year.

He thinks this will happen because the central bank might lower interest rates, which are like fees for borrowing money.

The central bank had raised these rates to fight inflation, but they have been lowered a bit recently.

Sberbank's CEO believes further rate cuts will cause the rouble to weaken, which could help exporters and the government's budget.

The central bank will decide on the interest rate again on September 12.