Ruble gains on currency basket; Mosprime rate rises
MOSCOW. April 28 (Interfax) - The dollar declined substantially against the ruble, lifting the ruble to a new six-week high against the Central Bank's currency basket. The Mosprime rate rose on surging demand for ruble liquidity.
The dollar shed 18.35 kopecks to 27.531 rubles/$1 and the euro gained 13 kopecks to 40.75 rubles/EUR1.
The bicurrency basket ($0.55 and 0.45 euro) lost 4 kopecks to close at 33.48 rubles. It has lost 31 kopecks since the beginning of the week.
The Central Bank lowered its official dollar rate 21.67 kopecks 27.4977 rubles/$1 but raised the euro rate 14.4 kopecks to 40.8121 rubles/EUR1.
The dollar's weighted-average exchange rate on MICEX fell 21.12 kopecks to 27.5061 rubles/$1 in Today deals and 20.41 kopecks to 28.5119 rubles/$1 in Tom deals. Combined dollar trading on MICEX amounted to $5.547 billion, of which $1.324 billion were Today deals and $4.223 billion were Tom deals.
The euro's average exchange rate rose 15.93 kopecks to 40.828 rubles/EUR1 in Today deals and 14.96 kopecks to 40.8151 rubles/EUR1 in Tom deals. Combined euro trading amounted to 525.9 million euro, of which 90 million euro were Today deals and 435.9 million euro were Tom deals.
The MosPrime Rate for overnight loans gained 11 basis points to 3.48%, setting a new high for 2011 for a second straight day.