The European currency has sagged considerably against the dollar on world markets today. Now the euro rate is hovering between $1.125 and $1.14. As reported earlier, yesterday the euro cost $1.15. However, there were no objective reasons for the recent surge in the euro, and it proved to be short-lived.
The Russian stock market has followed the global trends pushing the ruble up against the euro today. The weighted average euro rate totaled RUR34.61, down RUR0.21 against the official euro rate for today. The weakening of the euro at the UTS was also catalyzed by the more active selling of euros by Russian banks. As a result, the volume of trade has gone over EUR8.2m, which has been considerably higher than usual EUR5m to EUR6m.