Ruble Drops Most in Week as Crude Oil Retreats on Stimulus Woes
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The ruble dropped the most in almost a week as crude, Russia’s biggest export earner, retreated on concern new U.S. stimulus measures won’t shore up economic growth.
The ruble weakened as much as 1.1 percent, the most on an intraday basis since Sept. 20, and traded down 0.9 percent at 31.2374 versus the dollar as of 10:14 a.m. in Moscow. The currency lost 0.2 percent versus the euro to 40.1860 and sank 0.5 percent against the central bank’s target euro-dollar basket.