Nov. 19 (Bloomberg) -- The ruble rose and government bond yields fell as crude oil, Russia’s main export earner, advanced on concern Middle East unrest will disrupt supplies.
The ruble added 0.2 percent to 31.6725 against the dollar by 10:57 a.m. in Moscow after a 0.3 percent loss last week. An index of five-year government bond yields fell five basis points to 6.998 percent, the lowest in a month.
Israeli Prime Minister Benjamin Netanyahu said yesterday that the army may “significantly widen” an assault on the Gaza Strip. Crude oil, which together with natural gas accounts for about 50 percent for Russia’s government revenue, climbed 1.1 percent to $87.90 per barrel in New York.
Non-deliverable forwards showed the ruble at 32.1474 per dollar in three months. The currency was down 0.1 percent versus the euro at 40.44 and was little changed against the central bank’s euro-dollar target basket at 35.6182.
The extra yield that investors demand to own Russia’s dollar bonds over U.S. Treasuries fell three basis points to 206, according to JPMorgan Chase & Co.’s EMBI Global Index.
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