Ruble Rebound Puts Currency Out of Touch With Oil Before Rates
- Brent in rubles slides to lowest level since November 2010
- Bank of Russia to keep key rate at 11% on Friday: survey
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The ruble gained for a third day, sparking concern the currency is overvalued relative to the price of oil and threatening government efforts to cover its budget.
The exchange rate, which has fallen 6.3 percent in the past month, strengthened 0.6 percent per dollar to 68.9300 by 6:28 p.m. in Moscow. Brent crude, the benchmark for the country’s main export blend, fell 0.7 percent to $39.83.