The ruble fell the most in more than a week as the U.S. dollar rallied following the decision by a Moscow court to uphold the house arrest of billionaire Vladimir Evtushenkov.
According to Bloomberg, ruble has retreated the most among 24 emerging-market currencies – 12 percent this quarter.
“The ruble is down against the dollar in correlation with many other assets, such as the euro, oil and emerging-market currencies,” said Dmitry Dorofeev, a fixed-income strategist at BCS Financial Group in Moscow. “The Evtushenkov news was also negative, sentiment-wise.”
Read the full article here.