Ruble's real effective rate down 5.7% in January-May

MOSCOW, June 8 (RIA Novosti) - The ruble's real effective exchange rate, which determines the currency's value to major currencies adjusted for the effects of inflation, declined 5.7% in January-May, Russia's Central Bank said on Monday. The ruble's real rate dropped 7.8% both against the dollar and the euro in the first five months of the year, the bank said, citing preliminary data.