Dollar, euro open Mon MICEX trading on downswing
MOSCOW. Oct 24 (Interfax) - The dollar and the euro lost ground at the start of MICEX trading on Monday, with the dollar slipping to under 31 rubles and the ruble gaining on the bicurrency basket amid brightening world market moods.
The dollar opened at 30.87-30.95 rubles/$1, averaging down 10 kopecks from Friday close and 35 kopecks under the official Monday exchange rate.
The euro began trading at around 43.05 rubles/EUR1, likewise 10 kopecks down from Friday and 10 kopecks lower than the official exchange rate.
The bicurrency basket ($0.55 and EUR 0.45) had lost 12 kopecks to 36.37 rubles.
However, the dollar and euro's slide soon quickened, with the latter dipping to under 43 rubles, as the ruble continued to rise against the bicurrency basket on a wave of world stock market optimism.
By 10:16 a.m. Moscow time, the dollar was at 30.77 rubles/$1 and the euro at 42.91 rubles/EUR1, both currencies having shed 25-27 kopecks relative to Friday close. The bicurrency basket was 26 kopecks down at 36.23 rubles.