Dollar dips at start of MICEX trades, ruble gains against bi-currency basket
MOSCOW. Oct 16 (Interfax) - Both the U.S. dollar and euro dipped on the MICEX during the first minutes of trading on Tuesday while the Russian ruble gained against the Central Bank's bi-currency basket (set $0.55 and 0.45 euro).
The dollar opened MICEX trades within 30.96-30.99 rubles/$1 and came to 30.97 rubles/$1 after the first minute, which is 12 kopecks under yesterday's close. The euro opened at 40.16 rubles/EUR1, which is 4 kopecks under yesterday's close. The bi-currency basket went down by 9 kopecks to 35.1 rubles.
The dollar traded 11 kopecks under the official rate while the euro was 2 kopecks below the official rate.
Experts at the Interfax Center for Economic Analysis said that the dollar's losses and the ruble's upwards movement against the bi-currency basket have been driven by the improving mood on capital markets.