Investment in Russia and Eastern Europe Message Board

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Strategies & Market Trends : Investment in Russia and Eastern Europe

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To: leisuresports who wrote (24)	4/3/1998 2:57:00 AM
From: Real Man	of 1301

I guess, this caused today's decline of the Russian funds, etc. This seemed strange at first: the Russian market was UP, but the funds down. Then I looked at the ruble and saw a small jump. This might be positive, though, in the long run. Does anyone know about any new developments on the interest rates front? (see the second part of this message) PARIS, April 1 (AFP) - The ruble should be devalued in line with inflation to provide help for hard-pressed Russian exporters, the governor of the Russian central bank, Sergei Dubinin, said on Wednesday. He was quoted as telling the Finanical Times newspaper that "objectively" the ruble was strengthening and that "the decline of the ruble against the dollar is proceeding more slowly than inflation". He said that he was now trying to accelerate a decline of the ruble in line with inflation to provide "neutral" monetary policy. The newspaper noted that Russia had increased temporarily interest rates above 40 percent as part of a successful effort to weather effects of the financial crisis in Asia but now had to manage a flow of foreign funds into Russian securities offering high yields

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