Archive for May 2009

Dollar no longer Russian Central Bank basic reserve currency

May 29th, 2009 | By | Category: Rouble News

The Euro has taken over from the dollar as the basic reserve currency of the Russian Central Bank.

Russian economy worsens in April

May 26th, 2009 | By | Category: Rouble News

Despite positive reports that the worst of the recession was over, the Russian economy sank to news lows in April, contracting 10.5% compared to April 2008.

Russia to opt for cheaper steel coins

May 8th, 2009 | By | Category: Rouble News

Russia’s Central Bank has announced that it will be switching to steel coins, from copper, in an attempt to save money during the recession.

Russian Railways seeks 30 billion rouble bail-out from Russian government

May 5th, 2009 | By | Category: Rouble News

Russian Railways is seeking an extra 30 billion roubles from the Russian government in order to help it survive in the face of massive losses, according to new reports.

Gazprom sees profits rise thanks to gas prices

May 1st, 2009 | By | Category: Rouble News

A rise in gas prices and sales resulted in a welcome boost in profits for Russia’s gas producing giant, Gazprom last year.