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Deterred partly by uncertainty, and partly by the huge spreads, of up to 50%, which opened between buying and selling rates, most Russians with rouble savings decided against moving into dollars.
They also quote selling rates for treasury bills that they acquire at the weekly tender in competition with each other and with any other banks that may tender, including the Bank of England.
By the summer of 2009, automakers reduced production below 6 million units, lower than selling rates and under 50% of normalized unit sales.
G.M. sales were up 12.1percentt, adjusted for daily selling rates, according to the Autodata Corporation.
Based on daily selling rates, sales at G.M. fell 8.6percentt; at Ford, 6.6percentt; and DaimlerChrysler, including Mercedes-Benz, 10percentt, according to Autodata.
They make the market in sterling certificates of deposit and in commercial bills, quoting buying and selling rates for different maturities.
Similar(50)
The seasonally adjusted annualized selling rate for the industry was 9.91 million, the highest so far this year.
The industry's seasonally adjusted annualized selling rate, a closely watched measure of demand, rose to 12.3 million.
That translates to an annual seasonally adjusted selling rate of about 9.6 million units, a significant drop-off from the 10.7 million rate achieved from January through April.
"We think that our Internet selling rate will soon hit 70 cars," gushes Sherry Riccio Atamian, director of operations.
His was the only "sell" rating among 103 rating changes or new ratings reported by Bloomberg News on Thursday.
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