SF: Ruble Drops First Day in Four to Dollar as Crude Oil Declines
April 5 (Bloomberg) -- The ruble declined against the dollar for the first day in four as oil, Russia's chief export earner, fell in New York on speculation U.S. reserves of the commodity climbed to a four-month high last week.
The Russian currency depreciated 0.3 percent to 28.3652 per dollar as of 1:16 p.m. in Moscow, poised for the weakest closing level since March 25. The ruble was little changed at 40.2311 per euro, leaving it 0.1 percent stronger at 33.7043 versus the central bank's target dollar-euro basket.
Crude for May delivery slipped as much as 71 cents to $107.76 per barrel in New York, after rising to a 30-month high yesterday. A report tomorrow may show stockpiles of the commodity in the U.S. increased to the highest level in four months last week as rising prices suppress fuel demand there, according to analysts in a Bloomberg survey.
