The recent rally of the Russian rouble came to a standstill this Friday, 26th February, as domestic companies were completing monthly tax payments and concern about the pace of global economic recovery put pressure on crude oil prices. This morning, the rouble was trading at 34.84 versus the dollar-euro basket, four kopeks weaker than at [...]

The Russian Central Bank (CBR) today announced a cut of 25 basis points in its refinancing rate, bringing the rate down to 8.50%. The CBR hopes to stimulate growth in the economy with this monetary policy easing. The strength of the rouble has been helping to keep inflation down and there is a small upside [...]

Today saw the rouble hit its strongest level of the year, closing in on the current boundary of the central bank's floating trading band on the back of higher oil prices and upcoming domestic tax payments. Dealers have forecast that the regulator's boundary could be reached as early as tomorrow after the currency firmed as [...]

The Russian government’s finance ministry signaled on Friday that it was planning to continue financially supporting the Moscow region. A statement from the ministry to journalists today suggested that more financial bailouts were on the cards for the indebted region, which was the greatest beneficiary of state financial aid in 2009. The government has already [...]

After the rouble weakened to its lowest in nearly two months yesterday, losing 0.6 per cent to 30.5250 per dollar, a rise in crude oil prices this morning saw Russian stocks pick up again. The commodity went above $72 per barrel for the first day in five after signs that the European central bank may [...]

The rouble has reached its lowest level against the dollar this year after the price of Russia's biggest export dropped below $73 a barrel. Crude fell $72.67 in New York, down from $75.95 at the close of Moscow's official currency trading yesterday. Having lost six per cent, Russia's Urals oil blend – a major driver [...]

Russian energy giant Gazprom has revealed its profits surged 33 per cent between July and September 2009. Lower taxes and foreign exchange gains owing to a weakening of the rouble against the dollar have been credited with the rise. Gazprom, which meets around a quarter of Europe's gas needs, said net profit for the third [...]