06 May 2004 05:53
Dollar ticks up to 28.9 rubles/$1 as ruble liquidity improves
3% by the end of the day.
"There were in the second half of the day good reports about
MOSCOW. May 6 (Interfax) - The dollar exchange rate against the ruble rose from 28.85 rubles/$1 to 28.90 rubles/$1 by
the end of trading Thursday after a large amount of rubles arrived on the market to help interbank loan rates go down.
Dollar gains against the euro on world markets helped the dollar against the ruble, when it was reported that the drop
in unemployment benefit applications in the United States was larger than expected. Rosevrobank interbank operations
department chief Olga Kharlova told Interfax that rubles remained fairly expensive in the morning (10%-15% per year),
then the market received a ruble infusion and ruble loan rates fell as low as
the number of those employed in industry will also not be bad, and in
which light the euro exchange rate on the FOREX went down. Players
unemployment in the United States, and that means that Friday data on
large hedge funds are apparently moving out of this paper, having
invested in Russia two years ago.
believed that the euro had returned to a downtrend," Kharlova said. Much will depend on how high demand for the
dollar will be, she said. "It is notable that, aside from speculators, demand for it is high among strategic
nonresidents, they are actively selling our eurobonds and stocks, continuing to move to the dollar," she said. In
Kharlova's view, the drop in Russian eurobond quotations is a sign
The dollar's weighted average exchange rate slipped 4.33 kopecks to 28.8644 rubles/$1 in UTS Today deals, but
gained 1.25 kopecks to 28.8873 rubles/$1 in Tom deals.
On the interbank currency market, the dollar went down 1.84 kopecks to 28.8716 rubles/$1 in ordinary Today deals, but
up 1 kopeck to 28.8822 rubles/$1 in Tom deals (minimum deal price 28.84 rubles/$1).
A total of $503.819 million changed hands Wednesday, with $162.570 million traded in UTS Today deals, $86.609 million
in UTS Tom deals, $160.907 million in ordinary Today deals and $93.733 million in Tom deals. Kharlova predicted that the
next few days could see lackluster dollar gains. "On a Friday ahead of a long weekend, they will not let it make
strong gains, and rubles will be pretty expensive anyway for four days. After the holidays there will develop a large
volume of unsold currency and there will be something to sell with which to meet the arisen demand," she said.
In euro/ruble trading, the euro climbed 7.15 kopecks to 35.1341 rubles/EUR1 in the UTS and rose to an average of
35.0757 rubles/EUR1 in the afternoon session.
Banks traded EUR 5.399 million in 199 deals in the UTS and EUR 3.751 million in 16 deals in the afternoon session.
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[Interfax] |
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