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  1. #11
    Council Member Firn's Avatar
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    The state-owned Sberbank, the largest Russian bank IIRC, has stopped granting foreign currency loans to individuals 'because of the rubles high volatility'. Companies can still get them.

    Guess where those Euros or USD would have to come from?

    Lots of actions in many areas to make sure that the foreign currency reserves of Bank Rossii don't get depleted. I'm sure that the smart guys there don't like the pace at which the pile gets smaller...

    P.S: Seems like they used a perceived tranquility to buy some foreign reserves. We talk millions bought against billions sold on forex, and the ruble has weakened again.
    Last edited by Firn; 04-03-2014 at 12:26 PM.
    ... "We need officers capable of following systematically the path of logical argument to its conclusion, with disciplined intellect, strong in character and nerve to execute what the intellect dictates"

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    Speech at the Kriegsakademie, 1935

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