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Ruble deposits made lowest loss last year
RBC, 12.01.2005, Moscow 11:46:57.Ruble bank deposits were the least loss-making in 2004. The real profit margin on ruble deposits with a maturity of 1 year, opened at the end of 2003, totaled minus 0.96 percent, the macroeconomic research center of BDO Unicon reported. The main factor affecting this result was a high inflation rate of 11.7 percent. One-year euro bank deposits lost 2.69 percent despite an advance of 2.68 percent in the nominal euro rate against the ruble in 2004. In addition to inflation, this figure was affected by lower interest rates for these deposits. The most loss making deposits were dollar bank deposits. One-year bank deposits in dollars, opened at the end of 2003, lost 10.56 percent. This was due to a considerable drop in the dollar rate against the ruble totaling 5.8 percent last year.
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