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Ruble Weakens Against Dollar First Time in Four Days on Oil Drop

Dec. 21 (Bloomberg) -- The ruble weakened against the dollar for the first time in four days after a slump in crude oil, Russia’s biggest revenue earner.

The ruble dropped 0.6 percent against the dollar to 30.8375 by the close in Moscow. The currency fell 0.2 percent versus the central bank’s target euro-dollar basket to 35.2351 and added 0.1 percent against the euro to 40.6100. The decline pared this year’s advance against the dollar to 4.1 percent, data compiled by Bloomberg show.

Crude slid 2 percent to $88.34 a barrel in New York, the first decline in six days. U.S. House Republican leaders canceled a vote on Speaker John Boehner’s budget plan and the chamber said no more votes will be held until after the Christmas holiday.

Non-deliverable forwards showed the ruble at 31.3065 per dollar in three months compared with 31.1425 yesterday.

The extra yield investors demand to own Russia’s dollar bonds over U.S. Treasuries rose five basis points to 160, according to JPMorgan Chase & Co.’s EMBI Global Index.

To contact the reporter on this story: Ksenia Galouchko in Moscow at

To contact the editor responsible for this story: Wojciech Moskwa at

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