Russian corporates fleeing the dollar

Russia’s biggest bank

Sber says the foreign-currency deposits of its biggest clients are down 94%.

Russia’s biggest bank has recorded a 17-fold decrease in foreign-currency savings on the balance sheet of large businesses, according to Anatoly Popov, deputy chairman of Sber’s executive board, as cited by the Russian business daily RBK. The lender is widely seen as a proxy for the Russian economy. 

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