Central Bank strengthens US dollar; world markets weaken Euro

The US dollar average-weighted rate, which is the benchmark for the official exchange rate in Russia, has risen this Friday through the Central Bank's participation in forex trading while the Euro's average has dropped as a result of changes on the world forex markets.

The US dollar's average rose by 0.52 kopecks to 29.9210 rubles at the Moscow unified trading session for "today" settlements as of 11:00 Moscow time.

The average-weighted rate of the US dollar for "tomorrow" settlements at the MICEX unified trading session, which is used as the basis for the Central Bank to set its official exchange rate, went up to 29.9156 rubles as of 11:30 Moscow time, or 0.06 kopecks up on Thursday.

The US dollar has gained some strength through the Central Bank's participation in forex trading; during the morning session it purchased the US currency at the rate of 29.915 rubles to the US dollar.

The ruble has gained against the European currency again, although it has failed to reach the level of the morning session witnessed two weeks ago (35.0339 rubles to the Euro). The average-weighted rate for "tomorrow" settlements equaled 35.2861 rubles to the Euro as of 11:30 Moscow time, or 12.35 kopecks less as compared to Thursday. The Euro depreciation has been prompted by changes on the world bourses where the Euro has weakened in relation to the US dollar. On Thursday the Euro/US dollar exchange rate ranged between 1.1820 and 1.1840 US dollars and today this interval has narrowed to 1.1775-1.1790 US dollars.

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