Ruble Weakens on Bets of Currency Sale for Russian Wealth Fund

The ruble weakened, paring its weekly gain, as investors speculated the Finance Ministry will convert as much as 50 billion rubles ($1.5 billion) into foreign currency on the open market.

The ruble depreciated 0.2 percent to 38.1524 against Bank Rossii’s target basket of dollars and euros by 6 p.m. in Moscow, trimming its advance in the last five days to 0.7 percent. The yield on Russian government bonds maturing in February 2027 rose one basis point, or 0.01 percentage point, to 7.92 percent.