Source Pravda.Ru

Dollar retreats by RUR0.20 this week

The weighted average dollar exchange rate on tomorrow deals amounted to 30.32 RUR/USD at today's special session. This will be the official dollar rate for June 23. It means that the ruble has strengthened by RUR0.06 against the dollar today and by RUR0.19 over this week. On the whole, the national currency has strengthened by RUR1.56 against US currency since the beginning of this year, which is more than 5 percent. As a result, the current dollar rate is equal to the rate registered at the end of 2001.

Earlier, this considerable drop in the dollar rate could be attributed to the desire of authorities of the Central Bank and the Finance Ministry to take into account the development of the situation on world markets where the dollar was weakening against the Euro since the beginning of 2003. However, this situation has changed. Specialists point to the process of the dollar strengthening against the Euro, which started a few days ago, and they believe that this tendency will last pretty long.

It seems that Russian Finance Minister Alexey Kudrin shares this point of view. In an interview on the Echo of Moscow radio station yesterday he said that the dollar and Euro rates would not differ considerably in the near future. He stressed that "fundamental parameters of the US and European economies do not change so considerably to result in such changes in the ratio of their currencies". In this respect, the minister urged people not to hurry to transfer their savings in dollars to Euros or other currencies because "the dollar is the dollar even in Africa".

Comments
What may happen to foreign tourists traveling for 2018 World Cup in Russia
Kremlin on failed nuclear missile tests: 'Listen to President Putin and believe him!'
Russian special services detain Hizb ut-Tahrir members in Crimea
Russian special services detain Hizb ut-Tahrir members in Crimea
Foreign Ministry official explains why Russia had to sell Alaska to US
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Just Words on Scraps of Paper
Just Words on Scraps of Paper
SWIFT refuses to cut Russia off, even if Washington insists
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Russia introduces new money for the first time in eight years
Russians massively break traffic rules on Crimea Bridge
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
The Royal Wedding and the Silly Season
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Kremlin on failed nuclear missile tests: 'Listen to President Putin and believe him!'
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Science Has Once Again Declared: ‘We Were Created’
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Iran's next moves on nuclear deal much more important - Kremlin
Venezuela may expect another Panama scenario from 1989