Moscow and Maxim Korovin

Maxim Korovin: Russias currency gained 0.2 percent to 36.093 per dollar as of 6 p.m. in Moscow, after earlier dropping as much as 0.3 percent. Brent gained 0.3 percent to $103.31 per barrel after falling to its lowest intraday level in 13 months. Oil and natural gas comprise 50 percent of Russias budget revenue, according to Business Week. The ruble turned round with other emerging-market currencies and the euro against the dollar, Maxim Korovin, an analyst at VTB Capital in Moscow, said by phone. It was a global trend and The ruble, the most-volatile currency in emerging markets, strengthened along with global peers as Brent rebounded and disappointing U.S. economic data boosted speculation the Federal Reserve wont rush to raise interest rates. Currencies from the ruble to South Africas rand gained after a report showed U.S. retail sales were little changed in July, suggesting the recovery is failing to gain traction. The Fed cut monthly bond purchases by $10 billion for a sixth consecutive meeting last month to $25 billion as it considered when to raise its record low lending rate for the first time since 2006. (news.financializer.com). As reported in the news.