Skip to content
Subscriber Only

Ruble Intervention by Central Bank Fails to Stem 4th Weekly Drop

The ruble extended its fourth weekly loss, prompting the central bank to intervene to stem the rout as Russian companies grapple with a foreign-currency shortage.

The ruble weakened 0.4 percent to 44.4649 against the central bank’s basket of dollars and euros at 5:16 p.m. in Moscow, having traded as low as 44.4940 earlier. That took it past the monetary authority’s 44.4 upper band, beyond which the central bank has said it would step in to support it. Ten-year government bonds declined, sending the yield up 13 basis points to 9.55 percent.