Ruble Drops First Time in 2 Weeks on Speculation Gains Overdone
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The ruble retreated for the first time in almost two weeks, paring its biggest rally since 2010, as investors bet the currency’s gains were overdone.
The Russian currency lost 0.4 percent to 30.5900 per dollar at 7 p.m. in Moscow. It slid 0.3 percent versus the euro at 40.1950 and 0.3 percent against the central bank’s target euro-dollar basket.