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Ruble Drops Most in Emerging Markets With Crude at Six-Month Low

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The ruble slumped to a five-month low and Russian bonds dropped the most in emerging markets as oil slid and worse-than-predicted economic data increased the likelihood that the central bank will add to Friday’s rate cut.

The currency weakened 1.6 percent to 62.73 against the dollar by 4:11 p.m. in Moscow, after losing 10 percent in July, the most among major global currencies. The yield on Russian five-year notes rose 11 basis points to 11.01 percent. Crude declined 2.6 percent to $50.87 a barrel in London, the lowest level since Jan. 30.