18 Feb 2010 19:20

Euro falls to 14-mth low against ruble on Thursday

MOSCOW. Feb 18 (Interfax) - The euro fell to a 14-month low against the ruble on Thursday, while the Central Bank steadily reduced the lower boundary of the floating corridor.

The dollar added 6.46 kopecks in Tom deals on MICEX to 30.0548 rubles/$1 and the euro lost 34.5 kopecks to 40.75 rubles/EUR1, its lowest level since December 26, 2008.

The dual currency basket ($0.55 and EUR 0.45) fell 12 kopecks to close at 34.88 rubles, its lowest level since December 2008.

In the course of the session, the Central Bank applied the practice last seen in the fall of 2009: the bank purchased $700 million in foreign currency and then lowered the boundary of the floating corridor by 5 kopecks. "The Central Bank retreated three times during the session on Thursday. As a result the support level was probably moved to 34.85 rubles," International Industrial Bank dealer Armen Asaturyan told Interfax.

The Central Bank raised its official dollar rate 13.77 kopecks to 30.1148 rubles/$1 and reduced the euro rate 37.36 kopecks to 40.8825 rubles/EUR1.

The dollar's weighted-average exchange rate on the MICEX rose 13.9 kopecks to 30.1083 rubles/$1 in Today deals and 10.97 kopecks to 30.0948 rubles/$1 in Tom deals. Combined dollar trading on MICEX amounted to $5.802 billion, of which $714.7 million were Today deals and $5.078 billion were Tom deals.

The euro's average exchange rate fell 39.46 kopecks to 40.8598 rubles/EUR1 in Today deals and 35.46 kopecks to 40.8528 rubles/EUR1 in Tom deals. Combined euro trading amounted to 330.6 million euro, of which 71.4 million euro were Today deals and 259.2 million euro were Tomorrow deals.

Money-market rates rose: MIACR for overnight loans gained 19 basis points to 4.05% pa.