The ruble had its longest streak of declines in a month after crude slumped and as Russia’s central bank Governor Elvira Nabiullina warned the currency is too dependent on oil-price swings. Brent’s 5.3 percent tumble on Monday contributed to the Russian currency’s drop against the dollar today, trimming a month-to-date gain. Russia relies on crude and natural gas exports for almost half of its budget revenue and the correlation between the ruble’s movements and oil is close to a record. “The exchange rate largely repeats the movements of oil,” Nabiullina said in an interview with Bloomberg Television at an investor conference in Moscow today. “To bring an end to them moving in sync, the economy needs to be diversified.” The Russian currency traded down 0.4 percent at 62.5100 as of 7:12 p.m. in Moscow, dropping for a third day. Government ruble bonds fell for a second day, lifting the […]