Russia's Internal Convertibility Campaign To Heat Up Domestic Interbank Ruble Market
BANKS
It may still be a little too early in the game for most banks to staff a ruble desk, but for licensed banks within Russia, the campaign for internal convertibility of the ruble promises to bolster trading activity in the currency. The growth is expected to come from increasing speculation ahead of the rate fixing later this fall and from gradually improving trade-related business. The convertibility campaign begins July 1, with the attempt to create a single floating exchange rate for all
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