Bloomberg News

Ruble Gains for Third Day Against U.S. Dollar, Currency Basket

March 15, 2012

The ruble gained against the dollar and the euro, pushing it higher against Bank Rossii’s currency basket.

The Russian currency appreciated 0.4 percent to 29.3549 per dollar by 7 p.m. in Moscow, a third day of gains and its strongest close since March 5. The ruble added 0.3 percent to 38.38 against the euro and increased 0.3 percent versus the central bank’s euro-dollar basket to 33.4162.

Russia’s ruble bonds due April 2016 rose, reducing the yield seven basis points to 7.30 percent, the lowest since August. The yield on the country’s sovereign dollar bonds maturing in 2020 advanced one basis point to 3.946 percent, five basis points above a record low on March 12.

Bank Rossii manages the ruble within a so-called “floating corridor” against a basket of about 55 percent dollars and 45 percent euros to limit swings that erode exporters’ competitiveness.

To contact the reporter on this story: Denis Maternovsky in Moscow at dmaternovsky@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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