23 Oct 2009 10:30

Dollar falls below 29 rubles on Fri; ruble rises to new high against currency basket

MOSCOW. Oct 23 (Interfax) - The dollar fell below 29 rubles/$1 in the first minutes of trading on the MICEX currency exchange on Friday. The ruble rose to a new high against the Central Bank's currency basket as the euro gained on the greenback on forex markets.

The dollar opened trading in "tom" contracts at 29 rubles/$1, and was in the range 28.9-29 rubles/$1 in the ensuing minutes, its lowest level since December 2008. After three-five minutes the dollar was back near the 29-ruble mark, 7 kopecks below the close on Thursday and 9 kopecks below the Central Bank's exchange rate.

The euro opened at 43.54 rubles/1 euro, 5 kopecks below the previous close.

The bicurrency basket ($0.55 and 0.45 euro) declined 6 kopecks to 35.54 rubles, its lowest level this year.

The Interfax Center for Economic Analysis said the dollar decline came amid persisting high oil prices and the return of positive sentiment on global capital markets.