Russian Interbank Rates May Rise to 6% by Month’s End, Alfa Says
“Fears of a European interbank collapse are causing concerns over foreign banks’ abilities to refinance Russian foreign debt and are fueling pressure on the ruble exchange rate,” Natalia Orlova and Dmitry Dolgin, analysts at Russia’s largest private lender, said today in an e-mailed research note.
September tax payments may reach 1.7 trillion rubles ($55.6 billion), helping push overnight banks rates to 5.5 percent to 6 percent by the month’s end, they wrote.
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