The ruble climbed for a third day against the dollar after increased confidence in the global economy spurred a recovery in Urals crude, Russia’s main oil export earner. The Russian currency appreciated 0.5 percent to 32.20 per barrel as of 10:20 a.m. in Moscow, its strongest intraday position since Sept. 30. A close at that level would mean a weekly advance of 0.1 percent, the first since Aug. 28. The ruble was 0.3 percent stronger at 43.24 per euro, leaving it up 0.4 percent at 37.168 against the central bank’s target dollar- euro basket. Urals crude was poised for its first weekly gain in three after the European Central Bank announced a bond-purchase program to tackle the debt crisis yesterday and before an employment report today forecast to show the U.S. gained jobs last month. The oil blend jumped 3.2 percent to $104.69 a barrel at the close yesterday. Investors pared bets the ruble will depreciate further, with non-deliverable forwards showing the currency at 32.6668 per dollar in three months, compared with 32.8645 yesterday. NDFs provide a guide to expectations of currency movements and interest-rate differentials. Russia’s dollar Eurobond due 2015 rose, with the yield down 21 basis points at 4.040 percent. The yield on Russia’s sovereign dollar bonds due in 2020 fell 16 basis points to 5.136 percent. 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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