A Russian revolution
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Increasing turnover in currency trading is an important indicator of growing confidence between market participants. The story of the Russian financial markets in 2005 was a good example of this. The average daily turnover of FX trades with the participation of Russian banks grew from $16 billion in Q3 2004 to $38 billion in Q4 2005. This proves that in 2005, the FX market restored the pace of development seen before the Russian liquidity crisis in the summer of 2004. We expect this up-trend to
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