Ruble Drops as Volatility Surges to 2-Year High on Oil, Ukraine

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The ruble weakened to a record and volatility jumped to the highest in two years amid falling oil prices and concern Russia will toughen its stance over Ukraine.
The currency slid 0.9 percent to 47.3643 against the central bank’s target dollar-euro basket by 6 p.m. in Moscow, 31 kopeks weaker than the level at which the authority intervenes to slow the decline. One-month implied volatility on dollar-ruble contracts rose to 16.0550, the highest since June 2012. Brent slid 1 percent to $85.27 a barrel in London.

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