08 January 2004 10:58
Central Bank lets ruble strengthen again
The dollar rate stayed at USD/RUR 29.245 till 10 a.m. this morning. Most likely, banks were not sure whether to expect a bid from the Central Bank of Russia or not. But once it became clear that the Central Bank won't sell anything at this exchange rate, the dollar immediately went down 0.1 rubles to USD/RUR 29.145. This slump was not a surprise for anyone, as the ruble was either loosing its position against the dollar or staying stable for quite a while already. Meanwhile, the dollar was gradually moving down against the European currency on world markets. The exchange rate is likely to remain somewhere around USD/RUR 29.12-29.14 for quite a period of time in Russia now, and drop further sometime later.
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