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 RUSSIA IN FACTS
13 January 2004 12:17
Dollar rises against ruble, for first time this year
The weighted average exchange rate of the dollar with “tomorrow” clearings rose RUR 0.02 to 28.89 RUR/USD at the beginning of the Unified Trading Session on Tuesday.

Thus, the American currency has strengthened against the ruble at the Unified Trading Session for the first time this year. There was an opposite trend at the beginning of the year, and the American currency dropped RUR 0.58 against the ruble, losing 2 percent of its value.

Bank dealers offer several reasons for the ruble’s weakening on Tuesday. Firstly, it is due to the Central Bank, which supported the dollar at 28.8650 RUR/USD on Monday. The Central Bank continues resisting the strengthening of the ruble. Secondly, dollar sales were low both on Monday and Tuesday, which is a sign that there are no real speculative operations aimed at the weakening of the dollar. Finally, the dollar’s strengthening against the euro on the world market also played a part.


[RBCTop]
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