15 March 2004 11:56
DOLLAR STABILIZES AT AROUND 28.5 RUBLES/$1
MOSCOW. March 15 (Interfax) - The first post-election currency trading session was rather calm and the dollar managed
to stabilize at around 28.5 rubles/$1.
The Central Bank has satisfied dollar demand since the beginning of the month, selling rather high volumes and
indicating that it did not want to see the exchange rate surge, said Semyon Gudzenko of Olimpiyskiy bank. The opposite
is happening now and accumulated export earnings are entering the market so the Central Bank is buying surplus
dollars.
The dollar's weighted average exchange rate fell 2.04 kopecks to
28.5083 rubles/$1 in UTS Today deals, and 0.27 kopecks to 28.5097
"The Central Bank has determined the lower end of the trading range at 28.5 rubles/$1. Monetary authorities are
calmly buying surplus dollars at this level and replenishing gold and foreign currency reserves without always
advertising their participation in MICEX trading. I think this is what we observed on Monday," he said.
Dollar fluctuations are likely to remain at the current level for the next few days and dealers may turn to higher
yield instruments, such as shares, he said.
rubles/$1 in Tom deals.
On the interbank currency market, the dollar went down 2.89 kopecks to 28.5017 rubles/$1 in ordinary Today deals, and
1.99 kopecks to 28.5064 rubles/$1 in Tom deals.
In euro/ruble trading, the euro edged down 3.32 kopecks to 34.9959
rubles/EUR1 in the UTS. The euro rose to 35.0384 rubles/EUR1 in the
A total of $388.016 million changed hands Monday, with $75.433 million traded in UTS Today deals, $40.448 billion in
UTS Tom deals, $160.202 million in ordinary Today deals and $101.923 million in Tom deals.
There were also two Tom-next deals totaling $10.01 million at an average of 28.52 rubles/$1.
Currency Per Rate Change, Currency Per Rate Change,
% %
Australia 1 20.9665 0.61 Norway 10 41.1324 0.61
($) (Krone)
Canada ($) 1 21.3739 -0.93 Sweden 10 37.6825 -0.85
(Krona)
Switzerland 1 22.3055 -0.16 Singapor 1 16.6529 0.27
(Fr) e ($)
Denmark 10 46.8586 -0.22 Ukraine 10 52.8993 0.012
(Krone) (Hryvna)
U.K. (Pound 1 51.4911 0.52 United 1 28.5064 -0.01
STG) States
($)
Iceland 100 40.4002 0.08 EURO 1 34.9374 -0.19
"Euro/dollar trading on the Forex market was surprisingly calm on Monday with the exchange rate fluctuating
within a narrow range of from $1.225 to $1.23 and so far there do not seem to be any reasons for a sharp movement one
way or the other," Gudzenko said.
Belarus 1000 13.2305 0.00 Turkish 1000000 21.5224 0.14
(Ruble) (Lira)
Japan (Yen) 100 25.7023 0.38 SDR* 1 41.7194 -0.14
Kazakhstan 100 20.5064 -0.09
afternoon session. The gap between the euro and the dollar narrowed to 6.4876 rubles.
Banks traded EUR 4.831 million in 188 deals in the UTS and EUR 3.842 million in 21 deals in the afternoon session.
Central Bank currency rates from March 16
(Krona)
(Tenge) Russian rubles per unit. SDR - Special Drawing Rights. It is the unit of account for the International
Monetary Fund
[Interfax] |
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