A pedestrian walks by a huge Euro logo in front of the European Central Bank (ECB) in Frankfurt.
Photo: Reuters
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Ruble Materially Appreciated vs. U.S. Dollar
The minimal deals were clinched at 23.5070 ruble/dollar during the April 8 special session, today settlement. The indicator is 10 kopecks below the actual worth and more than 0.4 percent less than the official rate of exchange set for the U.S. dollar for April 8.
The reason of that sizeable appreciation of ruble to the U.S. dollar on domestic market is the material appreciation of the European currency vs. the U.S. currency on global stock exchanges.
Nowadays, a euro costs roughly $1.5770, while the price was around $1.5730 as of 10:00 a.m. MSK. Therefore, the European currency stepped up roughly 0.3 percent vs. U.S. dollar in no time.
The general opinion of economic analysts is that there is no way to secure the U.S. economy against recession and save the U.S. currency. The central banks of the world’s biggest economies will, perhaps, manage to suspend the decline of the U.S. dollar, but only for a while. The dollar is losing the global reserve status and its further losses are imminent, the analysts predict.
www.kommersant.com
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