"The ruble slid for a second day on weaker-than-forecast economic data as Russia canceled its second bond sale this month and the central bank chairman warned capital outflow remains “abnormally high.”
The ruble dropped 0.6 percent against the central bank’s dollar-euro basket to 37.1181 by 6 p.m. in Moscow, nine kopeks off the weakest level this year, reached June 11. The Russian currency slid 0.6 percent against the dollar to 32.1975, making it the worst performing emerging-market currency after Indonesia’s rupiah among 24 tracked by Bloomberg.
The Finance Ministry scrapped a sale of 15-year ruble debt today, citing a lack of bids. Russian industrial production unexpectedly shrank 1.4 percent in May from a year earlier, missing the median estimate for a 0.6 percent gain among 22 economists surveyed by Bloomberg, data showed yesterday. U.S. Federal Reserve Chairman Ben S. Bernanke may shed more light on when the Fed plans to trim its bond buying today."
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