Ruble Weakens to Record Low Against Basket as Currencies Slide
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The ruble dropped to a record low against the basket as steps by central banks in Turkey and South Africa failed to shore up emerging-market currencies.
The ruble weakened 1.2 percent to 40.9632 against Bank Rossii’s target dollar-euro basket, the lowest level on a closing basis, as of 6:01 p.m. in Moscow. The currency was at 40.9332 by 6 p.m., when the central bank stops its market operations. The yield on ruble-denominated OFZ bonds due February 2027 rose 14 basis points to 8.39 percent.