Ruble Weakens to Record on Concern Russia to Expedite Free Float
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The ruble weakened to a record for the fifth day on concern Russia will quicken its move to a free float after more than $20 billion of interventions this month failed to halt the depreciation.
The currency slid 0.6 percent to 47.7112 against the central bank’s target dollar-euro basket by 6 p.m. in Moscow, bringing this year’s decline to 19 percent. Ten-year government bond yields approached five-year highs as the Finance Ministry said it was scrapping its third straight debt auction.