CurrencyShares Russian Ruble Trust ETFNYSEARCA
FXRU is defunct since March 23, 2012. Stopped trading due to lack of investor interest
  • Mar. 26, 2012, 7:25 AM

    "Hooked on Oil," goes the title of an S&P report on Russia. The agency says prices need to be $120/barrel for the government to balance its budget this year, and warns it could cut the country's rating by 3 notches if crude gets to and stays as low as $60 - something the world's key central banks are working hard to forestall.

    | Mar. 26, 2012, 7:25 AM | 2 Comments
  • Mar. 7, 2012, 8:02 AM

    Investors vote with their feet in Russia's first bond sale since the Presidential election, with the Treasury selling just 8B ($270M) roubles of a planned 45B roubles worth of 7-year paper. Rising concerns about Russia's finances and politics contributed to the poor outcome, which followed a Fitch downgrade warning yesterday.

    | Mar. 7, 2012, 8:02 AM
  • Feb. 6, 2012, 1:27 PM

    A 20% YTD rally in Moscow draws dollars as $237M finds its way to Russia-focused mutual funds in the week ended Feb 1, the strongest number since April. The big move in shares isn't from anything inside the country's borders, says a fund manager, it just reflects the global appetite for risk. RSX +19% YTD.

    | Feb. 6, 2012, 1:27 PM
  • Feb. 3, 2012, 12:42 PM

    Russia's central bank holds policy steady, its benchmark rate at 6.25%. Even with inflation running at a post-Soviet low of 4.1%, the bank's statement has a hawkish tint. At least some of the recent improvement in inflation numbers is from the delay of utility bill hikes until after the Presidential election. Russian ETF: RSX +19% YTD. The ruble: FXRU +6% YTD. (PR)

    | Feb. 3, 2012, 12:42 PM
  • Jan. 12, 2012, 2:46 PM
    Capital outflows out of Russia totaled $84B in 2011, with nearly $40B coming in Q4 following the election and ensuing protests. The number is a big one, but relative to GDP, measures just 5% vs. 15% in 2008/09 and a similar number during the 1998 crisis.
    | Jan. 12, 2012, 2:46 PM
  • Dec. 23, 2011, 3:06 AM

    In an unexpected move, Russia's central bank cuts its refi rate by 25 bps to 8%, and raises interest rates on the Bank of Russia deposit standing facilities by 25 bps. The decision was partially driven by "global economic uncertainty."

    | Dec. 23, 2011, 3:06 AM
  • Dec. 16, 2011, 3:04 AM
    After 18 years of negotiations, Russia joins the WTO today, a move economists estimate will add 3% to its economy in the medium-term and 11% in the long-term.
    | Dec. 16, 2011, 3:04 AM | 9 Comments
  • Dec. 14, 2011, 2:43 PM

    Medvedev "is basically toast," says Jan Techau, believing there is no way he can serve as Russian PM as Putin is expected to distance himself from his former cohort in the wake of election shenanigans. Another analyst sees Medvedev resigning before year's end, allowing Putin to become acting president in the run-up to the final election.

    | Dec. 14, 2011, 2:43 PM
  • Dec. 14, 2011, 8:58 AM

    Boris Gryzlov - the chairman of Putin's United Russia party - offers his scalp over the election uproar, resigning as speaker of the lower house of Parliament, and saying he will not reenter the Duma for another term. He remains as chair of the ruling party, 2nd only to Putin in power within United Russia.

    | Dec. 14, 2011, 8:58 AM
  • Dec. 12, 2011, 7:29 AM

    Mikhail Prokhorov - perhaps best known in the States as the owner of the NJ Nets - announces a bid to run for Russian president in 2012. He says he's "not scared" he'll repeat Mikhail Khodorkovsky's fate - another billionaire who challenged Putin and promptly found himself in a Siberian jail.

    | Dec. 12, 2011, 7:29 AM | 1 Comment
  • Dec. 11, 2011, 5:27 AM

    Tens of thousands of people yesterday demonstrated in Moscow and other Russian cities, demanding an end to Vladimir Putin's rule and a rerun of the recent Duma vote, when corruption is alleged to have taken place. Experts believe Putin is in little danger ahead of March's presidential election but say his authority has been damaged.

    | Dec. 11, 2011, 5:27 AM | 6 Comments
  • Dec. 7, 2011, 7:16 AM

    Ex-Soviet leader Mikhail Gorbachev calls for new elections in Russia, saying the nation should annul the previous disputed results. "The country's leaders have to admit that there were numerous falsifications and rigging and the results do not reflect the will of the people."

    | Dec. 7, 2011, 7:16 AM | 1 Comment
  • Dec. 6, 2011, 10:52 AM

    Russian shares dive as troops enter Moscow and start making arrests amidst mass protests over Sunday's election results in which Putin's United Russia party squeaked out a small victory. An outside observer has said the election was slanted in favor of Putin's party. RSX -5.9%.

    | Dec. 6, 2011, 10:52 AM
  • Nov. 30, 2011, 7:08 AM

    Given the horrid investment performance of the BRICs, SocGen's professional bear Albert Edwards suggests the acronym ought to stand for Bloody Ridiculous Investment Concept. YTD: Brazil EWZ -28%, Russia -23%, India INDY -32%, China FXI -20%. Could China's move to easing turn things around?

    | Nov. 30, 2011, 7:08 AM
  • Nov. 1, 2011, 8:56 AM
    Trading has been halted in Russia with the MICEX -3.3%. The exchange blames technical issues.
    | Nov. 1, 2011, 8:56 AM | 1 Comment
  • Nov. 1, 2011, 7:11 AM

    The Central Bank of Russia tells the Russian parliament it expects the amount of funds exiting the country to increase 2X this year to $70B due to foreign and domestic investors pulling money out of the "unfavorable investment climate" in the nation. Analysts go one step further, adding the uncertain political future in Russia is also contributing to the outflow of money.

    | Nov. 1, 2011, 7:11 AM
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