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 RUSSIA IN FACTS
17 March 2004 15:55
Ruble recovers against euro
The weighted average exchange rate of the euro dropped to 34.92 RUR/EUR at the Unified Trading Session on Wednesday. This is RUR 0.19 below the official exchange rate of the EU currency set by the Central Bank for March 17.

The session low was 34.86 RUR/EUR. On Tuesday, the ruble fell RUR 0.17 against the euro, but it recouped this loss on Wednesday.

This is due to the euro’s weakening against the dollar on international markets. The euro is currently traded at $1.2270, having traded at more than $1.23 a day earlier. So, the American currency has added about 0.3 percent in value against the euro.

Meanwhile, the weighted average exchange rate of the US dollar with “tomorrow” clearings rose to 28.53 RUR/USD at the Unified Trading Session on Wednesday. This is RUR 0.02 above the official exchange rate of the US currency set by the Central Bank for March 17.

The Russian currency has weakened against the dollar at the Unified Trading Session, for the first time since March 10. Dealers say this is due to the tough position of the Central Bank, which prevents the ruble from strengthening significantly.


[RBCTop]
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