Ruble Gains on Oil as Ulyukayev Warns of ‘Currency War’

The ruble appreciated against the dollar in late Moscow trading as oil rallied in New York. Central banker Alexei Ulyukayev said leading economies are on the brink of a “currency war.”

Russia’s currency strengthened 0.1 percent to 30.3110 per dollar by 11:50 p.m. in Moscow, after earlier slipping as much as 0.5 percent. The ruble was little changed at 34.8094 against Bank Rossii’s dollar-euro basket, used by policy makers to smooth exchange-rate moves that crimp exporter competitiveness.