13 Aug 2009 10:22

Ruble gaining rapidly against dollar

MOSCOW. Aug 13 (Interfax) -The ruble gained rapidly against the dollar and euro in the first few minutes of trading on the Moscow Interbank Currency Exchange (MICEX) as the mood in the global markets picked up WTI crude climbed back above $70 a barrel.

The dollar started off at 32.2 rubles/$1 in Tom deals before plummeting to 32.1-32.15 rubles/$1, which is 35 kopecks below yesterday's closing and 50 kopecks below today's official rate.

The euro was trading at 45.6-45.7 rubles/EUR1, or 30 kopecks below yesterday and 50 kopecks below the official rate.

The ruble, which started to strengthen against the dual currency basket ($0.55 and EUR 0.45) yesterday afternoon, continued to do so this morning, rising to 38.2 rubles. The ruble had fallen to almost 39 rubles against the basket at one stage yesterday before closing at 38.53 rubles.