Balances of correspondent accounts see significant rise

The balances at correspondent accounts of Russian commercial banks rose significantly as of the beginning of business today. This was the first time when a rise in the balances was observed after November 5, after a fall for two working days in a row. Today, the balances went up by 9bn rubles (about $283m) in Russia and by more than 6bn rubles (about $189m) in Moscow and the surrounding region. This was the maximum increase since November 1.

This rise resulted in a favorable situation with ruble resources observed on the domestic currency market at present and low ruble credit rates. These rates are at 5 to 6 percent now. The favorable situation with ruble liquidity has led to a further rise in the US currency rate on the interbank market.