Another Big Win For Putin!!!
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America start QE25 yet?
Breh give up
Spidey Man
Superstar
But the Nobel Prize Winner will still get hated on for his foreign policies because people are hungry for more U.S. troops being deployed overseas and getting shot at in a new war.
Breh stop being a clueless ironic dumbass
88m3
Fast Money & Foreign Objects
Ruble Drops as S&P Junk Concern Fuels Worst Emerging-Market Rout
By Ksenia Galouchko Oct 23, 2014 11:08 AM ET
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The ruble slid to a record, crossing the threshold that triggers central-bank currency interventions, and bonds fell on concern that Standard & Poor’s will lower Russia’s credit-rating to junk.
The ruble lost 0.7 percent to 46.6592 versus the central bank’s target dollar-euro basket at 6 p.m. in Moscow, declining past the 46.30 lower limit of the trading band. The monetary authority has spent more than $15 billion this month to slow the world’s worst depreciation since June. The currency fell the most among 24 emerging nations today, while 10-year bonds had their worst day in two weeks and stocks slipped.
S&P is due to announce its decision on Russia’s credit score tomorrow, a week after Moody’s Investors Service cut the sovereign one level to its second-lowest investment grade, citing concern sanctions over Ukraine will hurt the economy. The ratings company currently ranks Russia BBB-, one step above junk. Central bank currency interventions contributed to the biggest drop in Russia’s reserves since May, data showed today.
“The risk of an S&P downgrade is adding negativity to the market,” Aram Kazaryan, a foreign-exchange trader at MDM Bank in Moscow, said by e-mail today. “If S&P cuts Russia to junk rating, funds will start selling.”
The Bank of Russia has spent about $2.6 billion from its reserves today supporting the ruble, he said. The yield on 10-year local-currency debt increased 12 basis points to 9.87 percent. The Micex Index closed less than 0.1 percent lower, trimming a drop of as much as 1.4 percent after oil pricesrebounded 2 percent in London, reversing yesterday’s decline.
Record Premium
The ruble has fallen 19 percent against the dollar since June. The Bank of Russia resumed interventions for the first time since May this month as sanctions triggered a shortage of foreign currency, driving the premium traders are willing to pay for dollars to near-record levels.
The central bank spent about $25 billion slowing the ruble’s drop in March as capital flight surged after Russia’s annexation of Ukraine’s Crimea region drove relations with the U.S. and its allies to a post-Soviet low. Moody’s analyst Kristin Lindow cited Russia’s “subdued” growth prospects and the “ongoing erosion” of its reserves for the cut last week.
Currency sales this month contributed to a $7.9 billion drop in Russia’s foreign reserves, the second-biggest cash pile in Europe, according to data for the week through Oct. 17.
“So far this level isn’t critical, although the trend of falling reserves isn’t optimistic,” Vladimir Tikhomirov, the chief economist at BCS Financial Group in Moscow, said by phone.
The central bank kept its currency corridor against the basket unchanged yesterday and sold foreign exchange valued at $13 million on Oct. 21, it said on its website today. Russia receives more than half its budget revenue from the energy industry.
On the Micex, AFK Sistema slumped 5.7 percent after a court delayed a hearing on the fate of the company’s stake in OAO Bashneft. Sistema’s billionaire owner Vladimir Evthushenkov was placed under house arrest last month, and the stock has tumbled more than 60 percent since.
http://www.bloomberg.com/news/2014-...interventions-fail-to-offset-s-p-concern.html
By Ksenia Galouchko Oct 23, 2014 11:08 AM ET
3 Comments Email Print
Save
The ruble slid to a record, crossing the threshold that triggers central-bank currency interventions, and bonds fell on concern that Standard & Poor’s will lower Russia’s credit-rating to junk.
The ruble lost 0.7 percent to 46.6592 versus the central bank’s target dollar-euro basket at 6 p.m. in Moscow, declining past the 46.30 lower limit of the trading band. The monetary authority has spent more than $15 billion this month to slow the world’s worst depreciation since June. The currency fell the most among 24 emerging nations today, while 10-year bonds had their worst day in two weeks and stocks slipped.
S&P is due to announce its decision on Russia’s credit score tomorrow, a week after Moody’s Investors Service cut the sovereign one level to its second-lowest investment grade, citing concern sanctions over Ukraine will hurt the economy. The ratings company currently ranks Russia BBB-, one step above junk. Central bank currency interventions contributed to the biggest drop in Russia’s reserves since May, data showed today.
“The risk of an S&P downgrade is adding negativity to the market,” Aram Kazaryan, a foreign-exchange trader at MDM Bank in Moscow, said by e-mail today. “If S&P cuts Russia to junk rating, funds will start selling.”
The Bank of Russia has spent about $2.6 billion from its reserves today supporting the ruble, he said. The yield on 10-year local-currency debt increased 12 basis points to 9.87 percent. The Micex Index closed less than 0.1 percent lower, trimming a drop of as much as 1.4 percent after oil pricesrebounded 2 percent in London, reversing yesterday’s decline.
Record Premium
The ruble has fallen 19 percent against the dollar since June. The Bank of Russia resumed interventions for the first time since May this month as sanctions triggered a shortage of foreign currency, driving the premium traders are willing to pay for dollars to near-record levels.
The central bank spent about $25 billion slowing the ruble’s drop in March as capital flight surged after Russia’s annexation of Ukraine’s Crimea region drove relations with the U.S. and its allies to a post-Soviet low. Moody’s analyst Kristin Lindow cited Russia’s “subdued” growth prospects and the “ongoing erosion” of its reserves for the cut last week.
Currency sales this month contributed to a $7.9 billion drop in Russia’s foreign reserves, the second-biggest cash pile in Europe, according to data for the week through Oct. 17.
“So far this level isn’t critical, although the trend of falling reserves isn’t optimistic,” Vladimir Tikhomirov, the chief economist at BCS Financial Group in Moscow, said by phone.
The central bank kept its currency corridor against the basket unchanged yesterday and sold foreign exchange valued at $13 million on Oct. 21, it said on its website today. Russia receives more than half its budget revenue from the energy industry.
On the Micex, AFK Sistema slumped 5.7 percent after a court delayed a hearing on the fate of the company’s stake in OAO Bashneft. Sistema’s billionaire owner Vladimir Evthushenkov was placed under house arrest last month, and the stock has tumbled more than 60 percent since.
http://www.bloomberg.com/news/2014-...interventions-fail-to-offset-s-p-concern.html
Breh who the hell are you!!!! I hope you don't live in America? If you do go file citizenship somewhere else. It is the nature of the politic game breh. You like that Iphone or android you posting on? You like your freedom? Well shut up. Do you know how close Ghaddafi and Saddam was to ruining your life and everything ya ancestors build by trying to undermine our economy.
88m3
Fast Money & Foreign Objects
Why are you cheering Russia when they don't like ya ass either. You be sounding retarded on here breh. Russia leadership been its failure since WW2. Cheer a loser breh who almost nuke ya family.
Futuristic Eskimo
All Star
OoopsAmerica start QE25 yet?
http://www.zerohedge.com/news/2013-...a-money-creation-blows-us-and-japan-out-water
Ignore massive Chinese monetary expansion conveniently
This nikka said "we"
I don't know but I am living a fabulous life with the decisions I made which wouldn't be available elsewhere. Anti American but you live here you an a$$hole. Go to China breh while all their middle class citizens are leaving or go to Russia where you will be dead by 45
Spidey Man
Superstar
Can't see come on breh you like Putin right now