Russian banks are experiencing problems with cash flow. Today MosPrime one-day rate rose to 23%. Morning banks had to sell dollars and euros to fill the demand for rubles. Central Bank of Russia has not even had to participate in today’s stock trading. Because the demand for Ruble now clearly exceeds the demand for dollars.

Many have compared the crisis in the USA with the Great Depression 30-ies. DJIA during the years of Depression has lost about 90%. To recover to 400 points took more than 20 years.
The Dow Jones timetable for the years 1928-1954

At the time of default in 1998 in Russia RTS index almost repeated the dynamics of […]

The Russian stock market was unable today to close in plussis. Further negative news on “Mechel” led to a drop in the indexes.
The Prime Minister of Russia Vladimir Putin today again raised with history of “Mechel”, explaining that the company used the scheme to offshore to reduce the tax base. Investors fear that “Mechel” becomes […]