Positive figures just released by Sberbank have been offered by banking chiefs as evidence of the bank’s return to profitability. The significant increase in quarterly profits are believed to be the result of cost cutting by Sberbank, and a fall in provisions against bad loans. The net profits reported by the state-controlled bank of 43.5 [...]

The rouble recovered on Monday due to stable oil prices, profit taking and local tax payments. However, market participants predict the currency’s volatility to continue in the midst of global financial issues. Against the euro-dollar basket, the rouble gained 41 kopecks on Monday to 34.78. Against the dollar, the rouble was up 13 kopecks to [...]

The International Monetary Fund (IMF) has predicted a modest recovery for the Russian economy next year, with growth of 3.5 per cent, but warned that credit expansion would be heavily pressurised by bad bank loans. Russia came out of recession in the third quarter, with a growth rate of 0.6 per cent, quarter-on-quarter. The rouble [...]

The rouble was stable in early trade on Tuesday, bolstered by a 16-month high versus the euro-dollar basket on Monday and strong oil prices. At 6.40 GMT this morning, the rouble was trading at 33.46 versus the euro-dollar basket, little changed from yesterday’s close and very near the presumed intervention level of the Russian central [...]

The rouble continued on its upward trend today, recovering the losses of Monday, as oil prices and stock values strengthened and exporters prepared to make rouble tax payments. At 6.30am GMT, the rouble had strengthened by 8 kopecks to reach 33.67 against the euro-dollar basket, nearing the 16-month high of 33.60 that it hit last [...]

The rouble came under pressure on Monday following two bomb blasts on the Moscow underground system, which sparked risk aversion amongst traders and increased demand for perceived safer assets, including dollars. The explosions happened during rush hour on two packed Moscow trains, killing at least 37 commuters and wounding 33. In early morning trading, the [...]

The rouble hit a fresh multi-month peak today, in line with its almost daily trend of doing so, in expectation of a rate cut by the Russian central bank. At 7.41 GMT, the currency was trading at 33.92 versus the euro-dollar basket, its highest level since the end of December 2008. This is only 2 [...]

With oil prices rising back above the US$80 mark today, the rouble recovered almost half of the losses it made on Monday. Dealers are warning, however, that it may take time for the currency to recover the same degree of momentum it has experienced recently. At 9am this morning, the rouble was trading at 34.14 [...]

The rouble has managed to stay stable on Tuesday against the euro-dollar basket, maintaining its recent 14 month high. It was trading at 34.28 against the euro-dollar basket today, compared to 34.20 at its peak yesterday. Over the past six weeks the rouble has achieved a mainly oil-fuelled rally. The country’s central bank (CRB) has [...]

The Russian central bank (CBR) has moved the floating trading band for the rouble for the second time today and the 16th time since the middle of last month, allowing the rouble to rally to a new high. The latest shift by the CBR moves the band to 34.20-37.20 against the euro-dollar basket from its [...]