Zee Beam News

MOSCOW, November 10, 2008 (RIA Novosti) - Net capital outflow from Russia totaled around $50 billion in October, Central Bank Chairman Sergei Ignatyev said on Monday. He said the Central Bank would release more exact figures in the near future. October's figure is an all-time high. Net capital outflow in September was $26 billion and about $7 billion in August. The Central Bank has warned that further outflow could affect the country's balance of payments. Billions of dollars have been pulled out of Russia by international investors since the global credit crisis hit in August, while lower oil prices have also reduced the flow of capital into the country.