Depreciation of US-dollar in Russia hits record

Baku. 6 February. REPORT.AZ/ US-dollar rate in Russia fell to the lowest level in last 18 months.

Report informs, today RUB/USD rate today fell to 58,6, that is by 32% lower than the record date registered in Russia.

Notably, last week, the Ministry of Finance and the Central Bank have decided to buy dollars from the market in order to prevent excessive depreciation of the US currency. According to the decision, from today until March 7 113.1 bln rubles (1.93 billion. dollar) should be taken from domestic market. However, it was impossible to prevent the depreciation of the dollar. Analysts were expected dollar to appreciate by 10% after the decision of the financial authorities.

Analytical Group of Report believes, depreciation of dollar caused by foreign capital flowing in Russia.

Thus, according to the Emerging Portfolio Fund Research (EPFR) - from January 25-February 1, 140 mln USD entered in Russia.

In total, funds continue to flow into Russian market for more than 12 weeks.