Dollar slumps on MICEX and FOREX
Moscow, Aug 12, 2008 (RosBusinessConsulting via COMTEX) --
Nearly four hours into today's special dollar trading session for tomorrow deals, the weighted average exchange rate stood at 24.28 RUB/USD, which is RUB 0.20 lower than at the opening of the session. The dollar's rapid depreciation against the ruble on the domestic market can be attributed to the dollar's unremitting recession against the euro on international exchanges. The latter is now trading at roughly USD 1.49, up from around 1.4830 a few minutes into the session. Consequently, the euro has edged up at least 0.5 percent against the US currency on the global market over a fairly short period.
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Related terms: currency, dollar, foreign exchange, market, recession
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