Source Pravda.Ru

Dollar Falls Due To Ruble Deficit On Russian Currency Market

The morning trade opened with a fall in the dollar exchange rate on the Russian currency market today. The high was only 29.915 rubles per dollar and the average-weighted dollar exchange rate was 29.91 rubles, which is 0.02 rubles less than the official dollar exchange rate set by the Central Bank for today. Specialists linked a drop in the dollar rate today to a significant ruble deficit of Russian commercial banks. A banking expert noted in an interview with RBC that problems with ruble liquidity started yesterday when one-day ruble credit rates reached 20 per cent. Later they dropped to about 5 or 10 per cent but jumped to 28-30 per cent in the morning today. The analyst could not name the reason for the current ruble deficit. He guessed it may be connected with a drop in the balance at correspondent accounts.

Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.

Capitalism reduced Indonesian cities to infested carcases

Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.

Capitalism reduced Indonesian cities to infested carcases
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