16 June 2004 08:30
Central Bank keeps currency market stable
MOSCOW. June 16 (Interfax) - The Central Bank of Russia continued to keep the currency market stable Wednesday,
buying dollars at 29.02 rubles/$1.
Euro/ruble fluctuations remain considerable thanks to high volatility on the international Forex market.
"Most of the large banks are not facing ruble problems, but the
smaller banks are being forced to sell other assets, for example,
shares, as they see their limits closed. All this has a generally
The Central Bank is calmly containing the exchange rate at 20.02 rubles/$1, killing two birds with one stone as it
shows market stability and puts rubles into the market, said Alexander Zhukov of Olimpiyskiy bank.
negative impact on trading," he said.
"There was and is no panic on the market, the crisis of confidence is more psychological than financial,
although rubles will be in demand at least until the end of the month when banks start making month-end and
first-half-end settlements," Zhukov said.
There are quite a lot of fluctuations in the euro sector, he said. Increased speculation is largely due to the
anticipated hike in U.s. interest rates.
The euro went up to $1.215 in the morning and then dropped to $1.205.
The dollar slid 0.09 kopecks to 29.0140 rubles/$1 in Today deals and rose 0.02 kopecks to 29.0202 rubles/$1 in Tom
deals.
A total of $1.02 billion changed hands Wednesday, including $334.443 million in Today deals and $686.807 million in
Tom deals.
In euro/ruble trading, the euro rose 22.29 kopecks to 35.2402 rubles/EUR1.
Banks traded EUR 6.878 million in 204 deals. [RU ASIA EUROPE EMRG EEU FRX CEN BNK INSI] me
[Interfax] |
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