19 May 2004 05:21
Dollar remains just under 29 rubles
MOSCOW. May 19 (Interfax) - There were no surprises for currency market players on Wednesday - the dollar fluctuated
at just under 29 rubles.
"We are unlikely to see serious dollar movement on Thursday, but if
the ruble deficit is felt, the dollar could slide a kopeck or two,"
The market was sluggish and virtually stood still throughout the day on the MICEX, said Kseniya Mayorova of Derzhava
bank. "Banks did not show much interest in buying [dollars] because the state of ruble liquidity was not conducive
to speculation - interbank loan market rates topped 10%. The situation improved toward evening, when ruble loan rates
dropped to 4%-5%, but demand was not serious because of tax payments due Thursday - trading closed at 28.975
rubles/$1," she said.
Mayorva said.
On the international Forex market, the euro fluctuated sluggishly around $1.2.
The dollar's weighted average exchange rate dipped 0.31 kopecks to 28.9870 rubles/$1 in UTS Today deals, and
0.79 kopecks to 28.9874 rubles/$1 in Tom deals.
On the interbank currency market, the dollar edged up 0.07 kopecks to 28.9864 rubles/$1 in ordinary Today deals, and
slid 0.5 kopecks to 28.9891 rubles/$1 in Tom deals. The minimum price deal was made at 28.975 rubles/$1.
A total of $453.623 million changed hands Wednesday, with $154.479 million traded in UTS Today deals, $78.982 million
in UTS Tom deals, $120.137 million in ordinary Today deals and $100.025 million in Tom deals.
In euro/ruble trading, the euro rose 8.79 kopecks to 34.8617 rubles/EUR1 in the UTS and edged up to an average of
34.7743 rubles/EUR1 in the afternoon session.
Banks traded EUR 5.828 million in 180 deals in the UTS and EUR 3.356 million in 18 deals in the afternoon session.
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