Source Pravda.Ru

Low balances at correspondent accounts lead to no ruble deficit - 23 December, 2002

The balances at correspondent accounts of Russian commercial banks went down at the beginning of business today. This reduction made up 5.6bn rubles (about $176m) in Russia and 400m rubles (about $12.58m) in Moscow and the Moscow region. The fall resulted in a slight rise in ruble credit rates. They increased to 5-6 percent today while they were below 3 percent on Friday, December 20, bank experts reported to RBC.

Experts stated that a fall in the balances at correspondent accounts and a slight increase in ruble credit rates did not result in a ruble deficit on the Russian currency market. They noted that the balances at correspondent accounts had been above 100bn rubles (about $3.15bn) in Russia and no lower than 62bn rubles (about $1.95bn) in Moscow for almost a week.

The discovery of the submarine has unveiled a few "inconsistencies." For example, how can one explain the fact that the sub was found where it needed to be searched for from the start?

Argentina hides the truth about the death of San Juan submarine
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