17 June 2004 08:22
Dollar remains stable, euro slips below 35 rubles
MOSCOW. June 17 (Interfax) - The dollar remained stable Thursday at just over 29 rubles/$1 and the euro slid below 35
rubles.
There were attempts to push the dollar up in the morning after gains on the international Forex market, which were
triggered by Federal Reserve Chairman Alan Greenspan's statement on a moderate rise in interest rates, and due to
improved ruble liquidity, Sergei Romanchuk of Metallinvestbank said.
Ruble supply will not be plentiful again before the start of month-
end tax payments, so the dollar is likely to remain at around 29.02
"Greenspan said U.S. inflation is not a cause for serious concern so interest rate hikes will be moderate. On
the other hand, the Central Bank of Russia bought rather a lot of dollars on Wednesday so there was a large volume of
rubles on the market and this led to dollar growth," he told Interfax.
"The situation on the interbank loan market is gradually returning to normal and rates are going down. It seems
that one of the large banks has reopened credit lines to small banks, however, it cannot be said that this happened on a
large scale and that liquidity returned to normal," he said.
The dollar slid in the afternoon and again stuck at the Central Bank's buy level of 20.02 rubles/$1.
rubles/$1, dealers say.
The euro ranged from $1.201 to $1.207 on the international Forex market. "After Greenspan's statement on
Wednesday, the euro fell and this was reflected on the Russian market Thursday, with the euro sliding to under 35
rubles," Romanchuk said.
The dollar went up 1.33 kopecks to 29.0273 rubles/$1 in Today deals and rose 0.38 kopecks to 29.0240 rubles/$1 in Tom
deals.
A total of $609.374 million changed hands Thursday, including $365.207 million in Today deals and $244.167 million in
Tom deals.
In euro/ruble trading, the euro fell 31.53 kopecks to 34.9249 rubles/EUR1.
Banks traded EUR 7.856 million in 211 deals. [RU ASIA EUROPE EMRG EEU FRX CEN BNK INSI] me
[Interfax] |
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