Russian banks reach for hard currency via domestic debt
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Emerging MarketsCEE

Russian banks reach for hard currency via domestic debt

Russia’s liquidity-parched banks are ready to sidestep their exclusion from international capital markets by issuing domestic bonds in foreign currency. While the local non-rouble market is still in its infancy, sizes of up to $1bn are under discussion for the new issues — with the country’s sovereign wealth fund a potential buyer.

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