Russia Triggers First Monthly Drop in Ruble With Dollar Buying
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The ruble headed for its first monthly decline since January after the central bank started selling the Russian currency, fueling speculation policy makers are returning to a managed exchange rate.
The ruble was little changed at 52.5340 as of 5:02 p.m. in Moscow, down 1.6 percent in the month. Russia’s five-year government notes gained, lowering the yield three basis points to 10.93 percent. Oil, Russia’s main export earner, rose 3.3 percent, trimming its monthly slide to about 3 percent.