The ruble appreciated against the dollar and yields on Russia’s international debt declined as oil, the nation’s main export, traded above $100 per barrel. The Russian currency gained 0.4 percent to 32.64 per dollar as of 10:12 a.m. in Moscow, poised for the strongest close since July 5. The government’s $3 billion of Eurobonds due 2042 rose, cutting the yield six basis points, or 0.06 percentage point, to 4.867 percent. Brent crude traded little changed at $101.06 per barrel, 1.8 percent higher than at the close of ruble trading yeserday, amid speculation China will boost stimulus to spur a recovery. Oil and gas together contribute about 50 percent of Russia’s state revenue, according to the government’s estimates. The ruble added 0.3 percent to 39.8245 per euro and 35.8739 against the central bank’s dollar-euro basket. Investors pared bets on the currency weakening, with non-deliverable forwards showing the ruble at 33.1645 per dollar in three months, compared with expectations of 33.2825 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

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