Andrey Rudakov/Bloomberg

Ruble Drops on Russia Rate-Cut Risk as RBS Reopens Bearish Bet

  • RBS re-opens ruble short trade on concern key rate may be cut
  • Russia sells all 5 billion rubles of May 2020 OFZs at auction

The ruble weakened as crude oil fell and Royal Bank of Scotland Group Plc warned that traders are underestimating the chances of the Bank of Russia cutting rates on Friday.

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