BLBG:Ruble Headed for Second Weekly Appreciation as Crude Advances in New York
The ruble strengthened against the dollar, poised for a second weekly advance, as oil, Russia’s chief export earner, climbed in New York.
Russia’s currency rose 0.3 percent to 28.855 per dollar as of 10:30 a.m. in Moscow, extending its weekly gain to 0.6 percent. The ruble was 0.3 percent weaker at 41.645 per euro, leaving it steady at 34.6088 against the central bank’s target dollar-euro basket.
Crude futures surged 3.8 percent this week, the first weekly gain in five, on speculation the U.S. will take additional steps to bolster the world’s largest economy and crude consumer. Crude for October delivery climbed 0.1 percent to $85.39 a barrel in New York today.
To contact the reporter on this story: Jack Jordan in Moscow at jjordan22@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
