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Date
03/05/2005
Author
Hidden
Source
Newsru.com
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Translated material

The dollar in Russia fell into 8 kopecks


The weighted average of the dollar at a single trading session of the Moscow Interbank Monetary Exchange with calculations "Tomorrow" by 11:30 amounted to 27.6698 rubles per dollar. Compared to Friday, it decreased by 8.2 kopecks.

According to RIA Novosti in the press service of the MICEX on Saturday, the volume of bidding was insignificant. By this time, 64 transactions for a total of 56.26 million were concluded at the ETS with the calculations of "Tomorrow".

Recall that in the world market the dollar has been constantly cheaper since August last year. However, at the beginning of the year, investors believed in the US currency. Thanks to large purchases and growing demand for American assets from January to early February, the dollar grew by almost 7% of the euro and 1.7% of the ruble - to the mark of 28.2 rubles. The further prospects of the world currency were considered uncertain.

However, at the end of February, the market again tuned in to reduce the dollar after Korea Bank announced a possible reduction in the share of the dollar in its foreign exchange reserves. After that, the dollar fell more than the center in the world and by 16 kopecks in Russia, approaching a four -year minimum.

The senior economist of FC Uralsib Vladimir Tikhomirov draws attention to the increase in oil prices and the positive balance of the Russian trade balance, which "increase the chances of strengthening the ruble." “At the same time, the funds of investors who count on the further growth of the ruble come to our market,” adds an analyst at the United Financial Group Yaroslav Lisovolik.

The general mood in the Russian market speaks in favor of further decrease in the dollar. Economists recall that the monetary authorities are going to actively fight not with the strengthening of the national currency, but with inflation that cannot be shot down. Strengthening the ruble helps to reduce inflation, and this is another argument in its favor. "The forecast for the coming months is a smooth nominal strengthening of the ruble. There are no reasons for the opposite reason," Tikhomirov from Uralsib summarizes.