The first working day in Russia has been marked by further decline in the U.S. currency vs. Russia’s ruble. One of the reasons is material appreciation of euro to dollar on global markets.
Photo: Ivan Makeev
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Dollar Goes Down at Accelerated Pace
The first working day in Russia has been marked by the further decline in the U.S. currency vs. Russia’s ruble. If the U.S. dollar suffered minor losses past week, it yielded to ruble materially Monday.
The weighted average rate, today settlement, was 24.88 ruble/dollar in a few minutes after the start of the special trading in the U.S. currency. The minimal deals were clinched at 24.7866 ruble/dollar, 16 kopeks below the official rate of the CBR.
The dollar lost 9 kopeks during three trading days past week. So, the decline suffered over four working days reached 16 kopecks, or over 0.6 percent.
The appreciation of Russia’s ruble to the U.S. dollar could be attributed to material appreciation of euro to dollar on global markets. A euro costs $1.424 today, though the price was $1.4166 as of 10:00 MSK, September 28, 2007.
Meanwhile in Asia, the dollar sank to 1.4284 dollar/euro, though it showed some adjustment later on.
As to the euro value in Russia, the rate was 35.45 ruble/euro by results of today’s special trading session. It is 10 kopecks above the official rate set by the CBR for October 1, 2007.
www.kommersant.com
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