Russia's top lending institution, Sberbank, is forecasting growth of between 15 and 20 per cent in retail deposits for 2010 and predicts that deposit rates will continue to fall.
Sberbank is a huge state-controlled financial institution, dating back to the Soviet era, and is reputed to be the safest bank in the country. Following the global [...]

For the second time this week, and in response to strengthening oil prices, the Russian central bank (CBR) has shifted the lower band boundary of the rouble.
According to local dealers, the CBR has moved the rouble’s band to a position of 34.60 versus the dollar-euro basket following its purchase of US$700 million on the market. [...]

On Monday afternoon, the rouble strengthened to a position of 34.70 versus the dollar-euro basket, a gain of 10 kopeks on last week's close.
This rise can be attributed to a renewed interest in riskier assets, relatively strong crude oil prices and the final payment of monthly tax bills.
The rouble is kept in a floating corridor [...]

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 close [...]

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 spent 10 [...]

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 step [...]

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 [...]

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 [...]

Investors have been uncertain about the long-term fate of the oil-driven rouble, but the International Monetary Fund said today that the Russian currency is set to strengthen quickly and solidly.
At a government conference on economic modernisation, the body's representatives claimed that "real appreciation puts strong emphasis on structural reforms".
Russia's central bank has been allowing for [...]