Ruble Rebounds From Record as Unlimited Interventions Affirmed
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The ruble bounced back from a record low after the central bank affirmed unlimited market interventions to keep the Russian currency within its target corridor amid the sell-off in emerging markets.
The ruble strengthened 0.6 percent, the most in a month, to 40.6599 against Bank Rossii’s target dollar-euro basket as of 6 p.m. in Moscow, when the central bank stops its market operations. It earlier weakened to as low as 41.1840. The yield on ruble-denominated OFZ bonds due February 2027 rose one basis point to 8.40 percent.