The balances at correspondent accounts of Russian commercial banks rose significantly as of the beginning of business today. This was the first time when a rise in the balances was observed after November 5, after a fall for two working days in a row. Today, the balances went up by 9bn rubles (about $283m) in Russia and by more than 6bn rubles (about $189m) in Moscow and the surrounding region. This was the maximum increase since November 1.
This rise resulted in a favorable situation with ruble resources observed on the domestic currency market at present and low ruble credit rates. These rates are at 5 to 6 percent now. The favorable situation with ruble liquidity has led to a further rise in the US currency rate on the interbank market.
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