101772945-450765322.530x298The ruble weakened for a fourth day as Russia’s economy minister acknowledged the government risks losing its investment-grade rating amid a slump in oil that is tipping the economy into a recession. The currency lost 1.2 percent to 66.0310 per dollar by 2:34 p.m. in Moscow, bringing its four-day decline to 8.7 percent. The ruble trimmed a drop of as much as 2 percent after Finance Minister Anton Siluanov said Russia could convert as much as 500 billion rubles ($7.58 billion) of its $88 billion rainy-day Reserve Fund to support the currency, which he called “undervalued.” Government bonds and stocks climbed. Oil’s 60 percent collapse from last year’s high is pushing the economy toward recession after U.S. and European Union sanctions over Ukraine shuttered foreign debt markets for Russian companies. Standard & Poor’s is reviewing Russia’s credit score and there’s a “fairly high” risk it will cut the world’s biggest energy exporter to a non-investment grade, Economy Minister Alexei Ulyukayev said at a conference in Moscow today. More