The key reason of today’s slump of U.S. dollar on MICEX is material appreciation of euro on foreign exchanges.
Photo: Ivan Makeev
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U.S. Dollar Suffers Hefty and Abrupt Losses
Russia’s ruble appreciated to 25.34 ruble/dollar in an hour and a half after the start of the Unified Trading Session of MICEX, tomorrow settlement. For U.S. dollar, the official rate of exchange could lose 14 kopecks, or 0.6 percent, on August 10.
Yesterday was quite a different day for the U.S. currency in Russia. The dollar managed to add a kopeck (0.01 ruble) by result of the trading. The key reason of today’s slump on MICEX is the material appreciation of euro on foreign exchanges. Each euro currently costs roughly $1.3780, though the yesterday’s value was about $1.3725.
If compared with a day earlier, U.S. dollar depreciated around 0.4 percent vs. the European currency. The result is the gains generated by Russia’s ruble during the Unified Trading Session of MICEX. Amid other things, the ruble is also bolstered by the great supply of U.S. dollars. Indeed, the commercial banks sold over $1.208 million as of 11:30 a.m. MSK.
www.kommersant.com
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