In June, the ruble strengthened against the US dollar for the seventh consecutive month, although it declined slightly against the yuan. Currency demand from companies reached its lowest level in 12 months.
The Bank of Russia’s more lenient approach to future key rate decisions, amid signs of slowing inflation, supported the Russian financial market.
Yields on federal government bonds and corporate bonds continued to fall. Most stock indices began to rise, with the MOEX Russia Index increasing by 0.7% month on month.
More details can be found in the new issue of the Financial Market Risks Review.
