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  Wednesday, February 19, 2020
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The ruble rate vs. the U.S. dollar has soared up to its March 2000 mark
The ruble rate vs. the U.S. dollar has soared up to its March 2000 mark. This morning's unified trading session of the MICEX, Moscow Interbank Currency Exchange, dropped the dollar by 10.73 kopecks, to R28.4144/$1 for tomorrow-the rate the Central Bank of Russia proceeds from for its official rate. The ruble rate for March 18, 2000 was 28.41/$1-and never has come up so high till this day. The unified session opened today with the ruble going up vs. the dollar. Yesterday's session closed at an average R28.51-28.52/$1. Today's opening were 28.41-28.42/$1, to get further to 28.40-28.41/$1 half an hour after this noon, Moscow time. Experts explain the ruble rise by European currency getting stronger in the world forex market. Next, dealers are convinced the U.S. dollar will keep sliding down this and next year. The Central Bank was absent from the Moscow exchange today to encourage Russian bulls. "The dollar/ruble rate is very closely linked to the dollar/Euro," says Dmitry Baibikov, second in charge of the Moscow Industrial Bank monetary market department. He thinks the Euro will come up to $1.33 at the forex even before this year's end. If the trend persists, the Russian rate may make R24/$1 next year, forecasts the financier. Europe has no actual economic levers to determine the forex rates, while the United States gains when its dollar gets down. Asian-based banks alone may reassure the world's bulls, remarked Mr. Baibikov. What he means, he added, is the Bank of Japan, with its customary interventions to keep the yen rate down. Unlike the dollar, the Euro dynamics was positive today. The unified MICEX session added 17 kopecks to it, against yesterday's rate, to R37.2671/1Euro. The Russian developments are following global in that respect, point out analysts
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