7 Aug 2009 10:40

Ruble declines at open on Fri

MOSCOW. Aug 7 (Interfax) - The dollar and euro posted moderate gains against the ruble at the open of trading on the MICEX currency exchange on Friday. The ruble weakened against the Central Bank's currency basket for the fourth day in a row despite continuing high oil prices.

The dollar opened trading in "tom" contracts at 31.4-31.45 rubles/$1, approximately 10 kopecks above the close on Thursday and 25 kopecks above the Central Bank's official exchange rate.

The euro opened at 45.1-45.15 rubles/1 euro, 10 kopecks above the previous close and 20 kopecks above the official exchange rate.

The bicurrency basket ($0.55 and 0.45 euro) rose to 37.6 rubles in the first minutes of the session, just over 10 kopecks above the previous close and its high since July 30.

The Interfax Center for Economic Analysis said the ruble was declining due to client purchases of foreign currency amid rising market uncertainty heading into the period of low trading activity traditional for August.