The Russian ruble is dipping

usdrub rubles to dollars

(Markets Insider)

The Russian ruble is weaker.

The petro-currency is down by 0.4% at 57.4433 as of 9:51 a.m. ET after earlier being down by about 0.7%.

Data released earlier showed that Russian PPI for February rose by 0.8% month-over-month, compared to the previous month's reading of 3.3%, and by 15.1% year-over-year, compared to the prior reading of 12.7%.

Meanwhile, Brent crude oil, the international benchmark, is down by 0.9% at $51.28 per barrel.

Looking further ahead in the week, the Central Bank of Russia is meeting on Friday. The interest rate decision "will be a close call, but we think it is most likely that the recent decline in inflation will prompt the Board to cut the one-week repo rate by 50 basis points to 9.50%," Capital Economics' William Jackson wrote in a note.

As for the rest of the world, here's the scoreboard as of 9:54 a.m. ET:

• The British pound is little changed at 1.23932 against the dollar. A Downing Street spokesperson confirmed that Article 50, the formal notification of Britain's intention to leave the EU, will be triggered on March 29. The notification will take the form of a letter addressed to Donald Tusk, President of the European Council.

• The euro is up by 0.2% at 1.0755 against the dollar. Earlier, data showed that German PPI rose by 0.2% month-over-month in February, below expectations of a 0.3% uptick, and below the prior month's reading of 0.7%.

• The Mexican peso is little changed at 19.1016 per dollar.

• The Indian rupee is up by 0.2% at 65.373 per dollar.

• The US dollar index is little changed at 100.23.

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