Ruble Leads Currency Slide as Yuan Risks Denting Russian Exports
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The ruble slid the most in emerging markets as the biggest drop in China’s yuan in two decades drove down oil prices and sparked concern Russia’s exports to its largest trading partner will be curtailed.
The currency weakened 2.1 percent to 64.1810 by 4:26 p.m. in Moscow, its sharpest decline on a closing basis since Aug. 3. Russia’s five-year ruble bonds pared gains, leaving the yield down two basis points at 11.07 percent.