Dollar falls at MICEX opening as euro goes over 40 rubles at start of Weds trades
MOSCOW. May 18 (Interfax) - The U.S. dollar posted noticeable losses at the start of trading on the MICEX on Wednesday while the euro increased significantly in reaction to the European currency's upward turn on the Forex market. The Russian ruble was stable against the Central Bank's bi-currency basket (set at 0.45 euro and $0.55) at the opening of trades.
The dollar opened on the MICEX at 28.04-28.1 rubles/$1, which is around 15 kopecks below its close on Tuesday and five to seven kopecks below the official rate.
The euro started at 40.02 rubles/EUR1, which was 11 kopecks above its Tuesday close and 17 kopecks above the official rate. The euro went above 40 rubles for the first time since May 6.
The bi-currency basket stood at 33.49 rubles but slipped to 33.4 rubles after the first minute of trades, which is five kopecks below yesterday's close.