(Bloomberg) -- Foreign investors lured by interest rates among the highest in emerging markets poured $2.8 billion into Russia's local-currency debt in March, the most on record.

Most of the inflow came in the second half of the month after the U.S. Federal Reserve laid out an unexpectedly dovish rate-hike outlook, Russia's central bank said in a report on Wednesday. The strong demand means there's little risk of substantial ruble weakening, even after the currency's 8.7% surge this year, it said.

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