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Ruble Set for 5-Year Low After Central Bank Limits Intervention

The ruble weakened for a second day, heading toward its lowest close in almost five years against a dollar-euro basket, after the central bank cut its so-called target interventions.

The ruble dropped 0.1 percent to 38.8401 against Bank Rossii’s target basket of dollars and euros by 6 p.m. in Moscow, when the central bank stops its market operations. This is the lowest level on a closing basis since April 2009. Yields on Russian government bonds maturing in February 2027 rose two basis points, or 0.02 percentage point, to 7.99 percent.