BLBG:Ruble Strengthens Versus Dollar After Worst Two-Day Loss in Three Months
The ruble advanced against the dollar, paring its worst two-day loss in almost three months.
The Russian currency climbed 0.4 percent to 30.683 per dollar as of 10:20 a.m. in Moscow, its first gain since Oct. 28. It declined 3.7 percent in the first two days this week, the biggest two-day depreciation since Aug. 9. The ruble was little changed at 42.1775 per euro, leaving it down 0.2 percent at 35.8387 against the central bank’s target dollar-euro basket.
Russia’s $3.5 billion of bonds due 2020 fell, pushing the yield up six basis points, or 0.06 percentage point, to 4.484 percent. Ruble bonds due August 2016 yielded 21 basis points more than yesterday, at 8.29 percent.
Investors pared bets the ruble would weaken further, with non-deliverable forwards showing the currency at 31.1413 per dollar in three months, compared with 31.1945 per dollar yesterday.
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
