28 May 2004 04:41
Dollar/euro gap tops 6.6 rubles
MOSCOW. May 28 (Interfax) - The gap between the dollar and the euro topped 6.6 rubles on the Russian currency market
Friday with the dollar remaining unchanged, while the euro hit a three-month high of 35.58 rubles/EUR1.
The euro climbed on the MICEX in reaction to gains against the dollar on the Forex market, where quotes neared $1.23
- $$1.229 in Asian trading. Volumes, however, were not high, because on May 31 the United States celebrates Memorial Day
and Britain a Spring Bank Holiday, said Alexander Varyushkin of Derzhava bank. "The next full trading day will be
on Tuesday and until then nobody is going to take any serious positions on the euro/dollar market, although the euro
looks set to keep climbing against the dollar," he said.
"The resistance level of $1.218, which was unshakable for a month, was beaten and the next level is at around
$1.24, to which the market is quite likely to head. U.S. unemployment figures for the month, which are due out next
Friday, may have an impact on dollar/euro dynamics. Today's statistics on the population's income and spending
in April did not affect the market because they virtually coincided with forecasts," he said.
There was little change in the dollar/ruble section Friday. High interbank loan market rates (10%-12%) should have
pushed the dollar down, but the Central Bank continued to buy dollars at 28.975 rubles/$1.
The dollar's weighted average exchange rate dipped 0.12 kopecks to 28.9756 rubles/$1 in UTS Today deals, and 0.3
kopecks to 28.975 rubles/$1 in ordinary Today deals. There were no Tom deals on Friday because of the U.S. holiday on
May 31.
A total of $631.214 million changed hands Friday, with $126.773 million traded in UTS Today deals, and $504.441
million in ordinary Today deals.
In euro/ruble trading, the euro rose 33.47 kopecks to 35.5874 rubles/EUR1 in the UTS (its level on March 1 2004).
Banks traded EUR 4.432 million in 168 deals in the UTS. [RU ASIA EUROPE EMRG EEU FRX CEN BNK INSI] me
[Interfax] |
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