The Russian rouble rose above 30 for the first time in 2010 this week, falling nearly one per cent against the dollar to 30.11. The development came as oil prices remained below $75 per barrel and investors turned their sights away from risky currencies.
Analysts commented that any day that's negative for oil can be equated [...]

Plans for a free float of the rouble are likely to be delayed after Russian policy-makers suggested the country's economy is not prepared for unrestricted currency trading. A research report from Citigroup Inc economists predicts that Russia's central bank will delay the free float beyond the official target of 2011.
The experts say Russia is likely [...]

In an attempt to kick-start the domestic car industry – thus boosting the economy, Russia is launching a car scrapping scheme.
The Russian Industry and Trade Minster Viktor Khristenko briefed prime minister Vladimir Putin on the scheme that will start on 8 March. He says the ministry is looking into ways to implement the scheme. He [...]

Russian officials are meeting today to discuss how to divide 245 billion roubles that have been set aside for "anti-crisis efforts" in 2010. According to First Deputy Prime Minister Igor Shuvalov, 195 billion rubles were already designated, added to which will be 50 billion roubles from this year that were not used.
Shuvalov told reporters that [...]

Russia's authorities have been praised by the International Monetary Fund (IMF) for their handling of the financial crisis, but it suggests the central bank should be more aggressive in fighting inflation.
In a statement, the IMF predicts the Russian economy will expand at a pace of 3.5 per cent next year, though it warns that bad [...]

Dropping oil prices and the rouble's depreciation against the US dollar have seen the profits of Russia's second largest oil producer fall by 40 per cent between July and September. Lukoil had predicted a drop, but a smaller one.
While analysts previously polled by Reuters on the matter had forecast that the company's net profit would [...]

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

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, 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 central bank's [...]

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, the bank's deputy chairman, who told reporters the recent strengthening of the rouble had prompted concern in some corners.
"It, of course, causes concern in [...]

The strengthening rouble has seen Russia's oil wealth funds gain $2.4 billion over the last month, 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 1st October.
Reuters [...]