11 Jan 2010 10:37

Dollar, euro sharply lower in first session of new year

MOSCOW. Jan 11 (Interfax) - The dollar and euro were sharply lower against the ruble at the open of trading on the MICEX currency exchange on Monday, the first trading session of the new year, on higher oil prices and optimism on capital markets.

The dollar opened trading in "tom" contracts at 29.5 rubles/$1, which is roughly 80 kopecks below the close on the final trading day of 2009 (December 30) and approximately 70 kopecks below the Central Bank exchange rate for the long holiday period.

The euro opened at 42.95 rubles/1 euro, 50 kopecks below the previous close and the official exchange rate.

The bicurrency basket ($0.55 and 0.45 euro) declined 35.55 rubles or almost 65 kopecks below the previous close.

The Interfax Center for Economic Analysis said the ruble was higher on optimism on global capital markets and oil prices, which are at a 15-month high. But they say the market will remain volatile throughout the day due to extremely high ruble liquidity.