No Reason To Fear Major Fluctuations In Dollar Exchange Rate

There is no reason to fear major fluctuations in the dollar exchange rate against other world currencies, primarily euro, Aleksander Livshits, Vice President of Russian Aluminium Co., told a news conference Friday. A mechanism providing financial stability of the Great Seven countries has proved to be real powerful and efficient, said Livshits who has just returned from a business trip to the USA. With the World Trade Center in New York being ruined, a total of over $23 billion in transactions have turned out to be frozen. The G-7, however, helped the situation by promptly using their assets and restoring the world's financial flows. The dollar-euro exchange rate will soon be at its pre-September 11 level, forecast Livshits. There are no grounds for acute fluctuations in the rouble rate either, he summed up.

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