Konstantin Korischenko

Why Coronavirus fears hit ruble exchange rate?

The dollar exchange rate increased to 64.01 rubles at the Moscow Exchange today. As of 11:26 Moscow time, the dollar was 64.04 rubles (+0.23%), and the euro - 70. 96 rubles (+0.11%). For the last time, the dollar exchange rate …

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Russia’s central bank cuts key rate by 1.5% this year

The board of directors of Russia's Central Bank cut the key rate by 0.25 percentage points to 6.25% annually as inflation has slowed down faster than expected, the regulator said in a statement. "Annual dynamics of the consumer …

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Bank of Russia radically lowers key rate

The board of directors of Russia's Central Bank cut the key rate by 50 basis points to 6.5% today. "Inflation slowdown is overshooting the forecast. Inflation expectations continue to decrease. The Russian economy’s …

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U.S. prohibited from providing any credit to Russia

The second round of U.S. sanctions against Russia related to the Skripal case took effect today. According to a notice by the State Department, the latest round of sanctions prohibits U.S. banks from making any loan or providing …

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Russia’s currency reserves reach $500 bln

The Russian Central Bank Chief Elvira Nabiullina said that Russia’s gold and foreign currency reserves stand at a comfortable level and have almost reached the $500 billion target. "Last year reserves …

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 Peak of inflation over in Russia

Russia's annual inflation was 5.3% in March, but it has started to decline in April due to a number of temporary factors restraining price hikes, the Russian Central Bank said in a report today. “Annual inflation has …

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Why is ruble going strong?

The dollar exchange rate declined below 65 rubles during trading on the Moscow stock exchange last week, while the euro exchange rate dropped below 74 rubles. This week the dollar fluctuated near 64.5 rubles on Monday-Wednesday, …

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Russia launches its own SEPA

Instant Payment System (IPS) is to be launched in Russia on January 28, 2019, Director of the National Payment System Department of the Bank of Russia Alla Bakina said at the system's presentation. Bakina noted …

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 Bank of Russia raises key rate to last year level

The Bank of Russia Board of Directors decided to raise the key rate by 0.25 pp to 7.75% per annum today. The regulator said in a press release that the decision taken is proactive in nature and is aimed at limiting inflation risks that …

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 Russia takes part in creating euro-SWIFT

Russia is taking part in developing a European counterpart of the Society for Worldwide Interbank Financial Telecommunications (SWIFT), the European Commission’s press service said. According to the EC's spokesperson, the …

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Will Crimea become offshore zone?

Head of the State Duma’s Committee for Financial Markets Anatoly Aksakov proposed to set up an offshore zone on the Crimean peninsula. At the same time, he noted that it will not happen in the near future. Aksakov …

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