Ruble Weakens as Credit Suisse Sees Currency Sales to Stem Drop
- Ministries asked to identify areas for savings: Vedomosti
- `Demand' for foreign currency in Russia Declining: Rosbank
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The ruble weakened with oil, prompting Credit Suisse AG to predict the state may resume foreign-currency sales to stem further losses and support the budget.
The Russian currency declined 0.2 percent to 76.344 per dollar by 6:30 p.m. in Moscow. Crude retreated 0.3 percent to $31.46 a barrel, still near the lowest on a closing basis since April 2004, while government bonds fell, sending the yield on five-year notes up 22 basis points to 10.58 percent and extending an increase on Monday that was the biggest since August.