Ruble rises to 3-yr high vs bicurrency basket on MICEX
MOSCOW. July 27 (Interfax) - The ruble quickened its gains against the bicurrency basket on the MICEX Wednesday and rose against the euro amid expanding currency sales, depressing the basket to its lowest since 2008.
By 10:37 a.m. Moscow time, the dollar had lost 7 kopecks from Tuesday close to 27.44 rubles/$1. The euro had dropped 11 kopecks to 39.75 rubles/EUR1 by that time. The bicurrency basket ($0.55 and EUR 0.45) was at 32.98 rubles, 9 kopecks under Tuesday.
The bicurrency basket had not gone lower than 33 rubles since three years ago.
Interfax Center for Economic Analysis experts point out that the ruble's gains are associated with active forex sales by exporters on the MICEX during a continuing period of tax payment, while the euro and dollar react unsteadily on world markets to state debt problems.