Russia
Russian Fin Min: Inflation target will be hit
The Russian finance ministry has said it expects inflation to remain under its 12 per cent target for 2003, according to the Moscow Times.
Bank of Russia changes exchange rate mechanism
Russia's central bank has changed the procedure by which it establishes the rouble exchange rate with the dollar. Pravda reports that the bank will now use the average-weighted rate of the US dollar at the Unified Trading Session (UTS) of the inter-bank…
Russian central bank invites banks to talk back
the Moscow Times reports that Russia's central bank has started a discussion forum on its web site which aims to establish dialogue with the banking community and improve the quality of central bank decisions.
Russian forex reserves reach another record high
Russian central bank reserves rose to a new record high last week, according to the ITAR-TASS news agency, taking the total increase to nearly sixteen percent since January.
Russian inflation target on track - Ignatyev
Speaking at an economic conference Russia's central bank governor Sergei Ignatyev said inflation should be held under 12 per cent despite IMF suggestions that price rises may be difficult to control, according to the Moscow Times.
Russia takes Latvia off currency control list
Russia's central bank has removed the tight currency controls which it had in place against Latvia. These are the last of the restrictions adopted by Russia's central bank regarding Latvia in 1998, according to a report from the baltic News Service.
Russian gold reserves may rise one-third in 2003
Russian central bank first deputy governor Oleg Vyugin said on Monday that the new oil price forecast could see the central bank increase its reserves by US$14bn during the year, according to a report by ITAR-TASS news agency.
Russian Central Bank acts to hold ruble steady
The ruble held steady on Friday March 21 as the Central Bank of the Russian Federation stuck to its promise to minimise exchange rate volatility in a market nervous at the start of hostilities in the Gulf, according to a report in the Moscow Times.
Ignatyev - Reserves to prevent ruble fluctuation
During a working meeting with the President of Russia, central bank chairman Sergei Ignatyev said that the Bank's foreign currency reserves will make it possible to prevent major fluctuations in the ruble exchange rate in the near future.
Russia's gold and for ex reserves continue to rise
Russia's central bank has announced increased reserves of 0.8% for gold and foreign exchange. This represents a new record.
Russian gold reserves reach a new record
Russia's central bank has announced record gold reserves, increasing to 52.7 bn dollars.
Russia on course to join FATF
Following the recent FATF and G8 summits in Paris, CentralBankNet learns Russia looks set to join the Financial Action Task Force on money laundering (FATF) in June, less than a year after being removed from the organisation's blacklist of non…
Russia posts another rise in gold reserves
Russia's gold and foreign currency reserves were at 51.4bn dollars on 14 February, up from 50.2bn dollars on 7 February, the Central Bank of Russia said in a press release on Thursday.
Russia's central bank reduces interest rate to 18%
The Russian Central Bank reduced its refinancing rate from 21% to a record low of 18% from 17 February, having taken into account a slowdown in inflationary growth and the real level of interest rates on the Russian money market.
Inflation control a priority for Russia's c bank
Containing inflation is a top priority for the Central Bank of Russia in the implementation of its monetary- financing policy, Central Bank First Deputy Chairman Oleg Vyugin said Wednesday.
Russian gold, forex reserves could hit $55 bln
The Central Bank of Russia's gold and foreign-exchange reserves could total approximately $55 billion at the end of 2003 so says a deputy governor of the Bank.
Russia posts small rise in gold reserves
Russia's gold and currency reserves have grown 100m dollars, from 48.1bn to 48.2bn dollars, in the period from 17 January to 24 January, a news agency said information from the Central Bank of Russia.
Russian central bank may increase euro reserves
The Russian central bank, which has foreign currency reserves largely denominated in dollars, may increase its holdings of euros, deputy chairman Oleg Vyugin was quoted as saying.
Belarus to adopt rouble for non-cash settlements
Belarus is going to adopt the Russian rouble for non-cash settlements from 1 July 2003 the chairman of the Belarusian central bank, Pyotr Prakapovich said.
CBR sets foreign bank capital procedures
The Russian central bank has established procedures for Russian bank participation in the charter capital of foreign banks.
Russian central bank to withdraw foreign capital
This year the Russian central bank plans to significantly reduce its share in Russian foreign banks and will withdraw from their capital fully at the beginning of 2004.
Unicon appointed central bank auditor in Russia
Unicon/MS Consulting Group has been appointed as the main auditor of the central bank of Russia for 2002. The bank's PR department said that this decision was reached at a meeting of the National Banking Council chaired by Alexei Kudrin on 30 December.
Gov't man gains control of Russian central bank
First Deputy Prime Minister / Finance Minister Alexei Kudrin has become the head of the National Banking Council - the Russian central bank's advisory board. The appointment is likely to give the government increased influence over the activities of the…
Russian Duma approves monetary policy guidelines
The State Duma, Russia's lower house of parliament, approved the 2003 monetary policy guidelines at its plenary session on Wednesday.