At the beginning of business today, the volume of ruble resources at commercial bank correspondent accounts dropped sharply. Across the country, the fall was by over a third of the previous level, or by over RUR65bn (about $2.05bn); in the Moscow region, ruble balances plummeted by a half, or by RUR52bn (about $1.64bn). This morning, balances at commercial bank correspondent accounts amounted to RUR104.5bn (about $3.29bn) throughout Russia and to a little more than RUR60bn (about $1.89bn) in Moscow. These figures have been the lowest since December 19, 2002, which was over two weeks ago.
However, this did not trigger a deterioration of the situation with ruble liquidity at banks and a ruble deficit on the market. The absence of ruble deficit is currently testified to by a low level of credit rates. As specialists reported to RBC, by noon, one-day ruble credit rates were as low as 1 to 2 percent. Yesterday night, credit rates were at a similar level.
The Russian military have already achieved significant success in the demilitarization of the Armed Forces of Ukraine