The Central Bank of Russia has set the exchange rate at 25.0062 ruble/U.S. dollar for September 25, which is the eight-year minimum of the U.S. currency in the recent eight years.
Photo: Reuters
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Dollar Sank to 8-Year Minimum
The Central Bank of Russia has set the exchange rate at 25.0062 ruble/U.S. dollar for September 25, which is 4.78 kopecks below the previous trading and is the eight-year minimum of the U.S. currency in the recent eight years. Euro lost nearly a kopeck to 35.3088 rubles but cost the record $1.413 on global markets.
U.S. dollar was fluctuating at 24.99 rubles to 25.03 rubles on MICEX September 24. Overall, it has lost 62 kopecks since the start of September. The dollar shed to the record low vs the European currency on global markets with euro costing as much as $1.413 already.
The reason of euro’s appreciation was traders’ expectations that the U.S. Fed Reserve System would bring down the rate, weakening the U.S. currency at the same time. The Fed lowered the rate by 0.5 percent to 4.75 percent in one go past week.
Euro first hit the $1.41 mark Friday and advanced to $1.4 on September 20.
www.kommersant.com
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