18 Dec 2014
Rouble rebounds after CBR’s new measures – KBC
FXStreet (Barcelona) - The KBC Research Desk notes that CBR’s new measures of selling foreign currency supported the Rouble decline.
Key Quotes
“As for the Russian rouble, it was supported by new measures to maintain stability of Russian financial sector announced by the CBR together with intervention of Finance Ministry, which informed that it sells its foreign currency reserves to support the rouble. The Finance Ministry has 7 bn. USD at its disposal. The ministry however has not specified how much it has sold.”
“The measures of the CBR aim to support banking industry by - among other things - providing liquidity and loosing capital requirements. It could help Russian banks - at least to certain extent – to withstand the recent sharp slump of Russian rouble and avoid revaluation of its assets.”
Key Quotes
“As for the Russian rouble, it was supported by new measures to maintain stability of Russian financial sector announced by the CBR together with intervention of Finance Ministry, which informed that it sells its foreign currency reserves to support the rouble. The Finance Ministry has 7 bn. USD at its disposal. The ministry however has not specified how much it has sold.”
“The measures of the CBR aim to support banking industry by - among other things - providing liquidity and loosing capital requirements. It could help Russian banks - at least to certain extent – to withstand the recent sharp slump of Russian rouble and avoid revaluation of its assets.”