The Russians bought in exchange offices, converted or withdrew from accounts as much as $8.1 billion dollars in February, i.e. 30 percent more than in January.
Photo: Valery Melnikov
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Russians Buy Foreign Currency on Denomination Rumors
The Central Bank of Russia (CBR) registered the record demand for foreign cash in February. The experts say the purchase surged on rumors about forthcoming denomination of Russia’s rubles. Another reason was the U.S. dollar’s decline below 24 rubles.
The Russians bought in exchange offices, converted or withdrew from accounts as much as $8.1 billion dollars in February, i.e. 30 percent more than in January. The demand exceeded indicators of February 2007 and February 2006 by 60 percent and 70 percent respectively.
Euro was more popular than the U.S. dollar. Its purchase surged by 37 percent in February, while the dollar manifested the growth of 21 percent. Net demand for the foreign exchange reached $2.5 billion dollars, which is the two-year record. The indicator grew 1.7 fold vs. January.
In Russia, the overwhelming majority (92 percent) tends to keep money in rubles, signaled the poll of All-Russia’s Public Opinion Center and the National Financial Research Agency.
www.kommersant.com
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