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22.01.2009, 14:46

Russian reserves continue freefall as cost of bailouts and Rouble defence mounts

Russia’s international reserves fell by $30.3 Billion in the week from January 12 to 16, as the Central Bank continued to intervene in support of the Russian Rouble.

22.01.2009, 11:39

VTB posts 3Q 2008 Net Loss – 9M 2008 Net result slumps 70%

Russia’s second largest bank, VTB has posted a 3Q 2008 Net Loss of $363 million under IFRS.

22.01.2009, 10:54

Rouble has further downside despite steadying over last week

The Russian Rouble has strengthened over the past two days. The government expects greater stability for the local currency over coming months, but experts doubt the controlled devaluation is over.

Central Bank brings gradual Rouble devaluations to an end with big move

Published: 22 January, 2009, 20:57


The Russian Central Bank brought an end to 2 months of minor Rouble devaluations by announcing it would set the upper or weaker level of the Rouble’s bi currency basket at 41 Roubles effective from Friday January 23.

 
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