Current-account surplus narrows by 50% in first two months Russia’s ruble fell the most in two weeks as oil declined on receding bets that as supply glut will ease, while Mario Draghi damped a euphoric reaction to stimulus that drove a rally in emerging markets earlier. The currency of the world’s largest energy exporter gained as much as 1.7 percent against the dollar as the prospect of lower rates in the euro-area made higher-yielding assets more tempting for investors. The ruble then fell after Draghi said the European Central Bank will not cut rates further and as oil retreated 3 percent on media reports the time and date for an international meeting on freezing output is still uncertain. The ruble has advanced 11 percent in the last month, the most in the world, as the price of Brent crude climbed above $40 a barrel from a 13-year low. An […]