22 September 2003 00:22
Dollar nosedives as interest rates top 10% in Moscow
MOSCOW. Sept 22 (Interfax) - Speculators bid the dollar down to almost a one-month low of 30.58 rubles/$1 on the
Moscow Interbank Currency Exchange (MICEX) Monday, forcing the Central Bank to intervene as interest rates topped
10%.
The CB had to step in and sell dollars at 30.48-30.485 rubles/$1, which looks like the benchmark around which
currency will trade in the days to come, dealers said.
The dollar averaged down 8.23 kopecks to 30.4877 rubles/$1 in Today deals during UTS trading (volume was $96.323
million) and 5.71 kopecks to 30.4909 rubles/$1 in Tom deals by 11.55 a.m. local time. At one stage, Tom dollars traded
as high as 30.48 rubles/$1.
Today deals on the Moscow Interbank Currency Exchange (MICEX) traded at 30.4856 rubles and Tom deals 30.4938 rubles
by midday.
The euro resumed growth against the ruble, up 44.13 kopecks to trade at 34.8427 rubles at the UTS with volume of
4.043 million euros. [RU ASIA EUROPE EEU EMRG] PR <>
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