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Dollar Depreciates to Ruble, Euro before Weekend
In an hour and a half after the start of the special trading, tomorrow settlement, the weighted average rate was 24.85 ruble/U.S. dollar, i.e. 2 kopecks below the CBR rate set for October 19.
The dollar yielded 6 kopeks a day before, i.e. the two-day depreciation to Russia’s ruble equals 8 kopecks, or 0.3 percent.
The basic reason of decline has remained the same – material appreciation of euro to the U.S. currency on global exchanges. U.S. dollar sank 0.3 percent to Europe’s single currency during a day. In general, it has lost roughly 7 percent this year, driven down by expectation of further decline in the Fed Reserve rates.
In the United States, they continue to claim that the strong dollar is a top priority for them, but the market attitude to this soothing statement is rather skeptical. The declining trend for U.S. dollars probably implies that Washington doesn’t intend to step in and bolster the national currency.
Of interest is that the dollar sank to the historical minimum in the basket of world’s leading currencies, while the euro grew to above $1.43 exactly on the threshold of the G7 Finance Summit that is slated for October 19.
www.kommersant.com
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