Dollar and euro post major gains at start of MICEX trades on Tues
MOSCOW. Sept 18 (Interfax) - The U.S. dollar and euro posted major gains at the start of MICEX trades on Tuesday while the Russian ruble slipped against the Central Bank's bi-currency basket (set at $0.55 and 0.45 euro) owing to declining oil prices and negative stock market trends.
The dollar opened MICEX trades on Tuesday within 30.83-30.88 rubles/$1 and stood at 30.86 rubles/$1 after the first minute, which is 27 kopecks over Monday's close and the current official rate.
The euro increased to 40.4 rubles/EUR1, which is 20 kopecks over yesterday's close and 25 kopecks above the official rate. The bi-currency basket went up by 24 kopecks to 35.15 rubles.
According to experts at the Interfax Center for Economic Analysis, the dollar and euro's gains have been driven by declining world prices for oil, as well as the worsening mood on global capital markets.