RUB Drops to Record Low on FX Plan, Ukraine as Auctions Axed

Feb. 19 (Bloomberg) -- RUB -1% at 41.8345 vs Bank Rossii’s target basket of USD, EUR by 6 p.m. in Moscow, when central bank ends market operations, close at that level would be lowest on record and outside central bank’s Feb. 18 target range.

* Yield on Jan. 2028 ruble bonds, which the Finance Ministry

planned to auction today, increased 18bps to 8.62%, highest

on record * Finance Ministry plans to buy 3.5b RUB worth of foreign

currency from the central bank will reduce interventions to

slow RUB decline, according to OAO Promsvyazbank and VTB

Capital * Ukraine “is a major focus at this point and the key factor

behind the risk-off backdrop,” Benoit Anne, head of

emerging-market strategy at Societe General SA in London,

wrote in note * Story link: NSN N1953W6JTSEJ <GO>

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