Ruble Options Show Rally to End as Central Bank Starts Purchases
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The chances of the ruble adding to this year’s world-beating gains have declined since Russia’s central bank said it would start buying foreign currency, options data show.
There’s a 39 percent chance the currency will rise below 49 against the dollar by June 30, compared with a 44 percent chance on Wednesday, the day before the Bank of Russia announcement, options data compiled by Bloomberg show. The ruble advanced 1.1 percent Friday after Thursday’s 1.7 percent tumble as the bank said it would buy $100 million to $200 million a day to replenish reserves after last year’s plunge.