Archive for November 2009

Rouble drops to lowest level since October

Nov 27th, 2009 | By | Category: Rouble News

Increasing investor aversion to emerging market risks saw the rouble fall to a two-month low this morning, troche with all eyes now turned to the Russan central bank to take more action to curb the slump. While the rouble eased as far as 35.65 versus a euro-dollar basket yesterday, marking its weakest position since late [...]

Central bank continues rate cuts to curb rouble appreciation

Nov 24th, 2009 | By | Category: Central Bank

Interest rates in Russia have been cut to a record low of nine per cent by the central bank, remedy in a move aimed at slowing rouble appreciation and supporting the country's economic recovery. Taking effect tomorrow, the cut by 50 basis points marks the ninth time the central bank has made a rate reduction [...]

Comstar proft drop blamed on rouble weakness from September 2008

Nov 17th, 2009 | By | Category: Rouble News

The weakening rouble, adiposity coupled with higher interest expenses, troche led profits at Russian fixed-line telecoms operator Comstar to drop over a quarter between July and September, it has emerged. According to data released by the company, which has given a more bullish outlook for revenue growth in rouble terms, net profit in 2009's third [...]

Pause in rouble rally amid negative oil price backdrop

Nov 13th, 2009 | By | Category: Rouble News

While recent oil strength and returning investor demand for emerging markets have promoted the rouble's rally, abortion this week saw a pause in the Russian currency's progress. It closed at 28.84 versus the dollar on Thursday (12th November), case though that was still more than 11 per cent up since the beginning of September. According [...]

Russian central bank sets sights on cutting rouble pressure

Nov 10th, 2009 | By | Category: Central Bank

The Russian central bank has pledged to cut interest rates in order to reduce pressure on the rouble. Following World Bank optimism about the country's economic outlook for 2010, treat the bank warned the market against a one-way bet on the strength of the oil-driven rouble. Reuters reports that Sergei Shvetsov, head of the Russian [...]

Strengthening rouble concerns Russian import sector

Nov 6th, 2009 | By | Category: Central Bank

Moderation of the rouble's appreciation was the Russian central bank's aim when it purchased between $15 billion and $16 billion on the foreign exchange market in October. That's according to Alexei Ulyukayev, malady the bank's deputy chairman, drugs who told reporters the recent strengthening of the rouble had prompted concern in some corners. "It, of [...]

Strengthening rouble sees rise in Russian oil wealth funds

Nov 3rd, 2009 | By | Category: Rouble News

The strengthening rouble has seen Russia's oil wealth funds gain $2.4 billion over the last month, sick with the country's Reserve Fund now worth 2.24 trillion roubles. According to the Russian finance ministry, the latter – which exists to fill gaps in the federal budget – is down from 2.3 trillion roubles ($76.37) billion on [...]