The total outstanding HMLs increased 2.1% in March 2018 to reach 5.4 trillion rubles
as of 1 April (a 19.2% year-on-year increase vs 11.0% a year earlier).
"The pressure on the ruble
has resumed after a small breathing space," Denis Davydov, a currency analyst at Nordea Bank, wrote in an investment note Wednesday.
Stabilizing the ruble
, which is one of the world's worst-performing currencies this year following the slide in oil prices and the sanctions imposed on Russia, is a priority for the country's monetary authorities.
has come under heavy selling pressure this week, falling around 20 percent against the dollar at one stage on Tuesday, sparking fears of financial meltdown, despite the central bank hiking its key interest rate by 650 basis points.
The Russian market reacted nervously to this news on Tuesday, with the ruble
plunging against the dollar on the Moscow Exchange, passing the psychologically significant level of 32 rubles
Brent has another $10-$15 downside risk but I doubt if the ruble
falls below 34 to the dollar even in a oil crash scenario.
The transfer from dollar to ruble
is due to occur on the night of 31 December 2005/1 January 2006 whereby all prices for the tariffs will be transferred into Russian rubles
elucidates these resemblances in introductory accounts of each city's overall history, not only up through the period on which he concentrates but also into the years after the First World War.
Section II provides a short history of the dissolution of the ruble
Originally we were capitalized at 15 million rubles
On the other hand, the Russian ruble
has lost reportedly almost 30 percent against the dollar, specific to this quarter.
As the Russian authorities announced a series of measures to ease the pressure on the ruble
, which slid 15 percent in the previous two days and raised fears of a bank run, many Russians were buying cars and home appliances -- in some cases in record numbers -- before prices for these imported goods shoot higher.