Real ruble rate strengthens against dollar but falls against euro

The real ruble exchange rate, taking into account a rise in consumer prices in Russia and the USA, strengthened by 4.8 percent against the dollar in January-November 2002, the center of macroeconomic research of UNICON/MS Consulting Group reported. The nominal ruble exchange rate dropped 5.4 percent against the dollar over the same period.

The real ruble rate against the euro went down 7.2 percent over the first eleven months of 2002 while the nominal ruble rate reduced 16.4 percent against the euro. The research also stated that Russia's gold and currency reserves had increased $1.44bn, or 3.1 percent in November 2002.