Ruble Weakens for Third Day Against Dollar, Euro as Oil Drops

The ruble depreciated against the dollar and the euro for a third day as oil, the country’s chief export, dropped in New York.

The Russian currency depreciated 0.3 percent to 29.7425 per dollar at the 7 p.m. close in Moscow, after losing 0.2 percent yesterday. Russia’s 114 billion rubles ($3.8 billion) of local OFZ bonds due 2021 fell for a fifth day, lifting the yield seven basis points to 8.01 percent.

Crude futures extended yesterday’s decline of 0.8 percent and traded 1.4 percent lower at $101.03 a barrel in New York before a report forecast to show U.S. stockpiles climbed 2 million barrels to 364.4 million last week, according to a Bloomberg News survey of analysts.

The ruble was 0.4 percent weaker at 38.90 per euro and lost 0.4 percent to 33.8634 against the central bank’s target dollar- euro basket. Investors increased bets on the currency depreciating, with non-deliverable forwards showing the ruble at 30.169 per dollar in three months, compared with expectations of 29.9685 per dollar yesterday.

Editors: Peter Branton, Alan Purkiss

To contact the reporter on this story: Denis Maternovsky in Moscow at

To contact the editor responsible for this story: Gavin Serkin at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.