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Dollar drops vs. euro and ruble
RBC, 08.09.2008, Moscow 11:53:26.An hour and a half into today's special dollar trading session for tomorrow deals, the weighted average exchange rate stood at 25.26 RUB/USD. Therefore, the official rate for September 9 can be revised RUB 0.20, or 0.8 percent, lower. Given that the dollar, in contrast, gained RUB 0.25 against the ruble at the previous session, the Russian currency has been able to recoup most of that loss today. The current developments on MICEX may be attributed to the euro's significant advance against the dollar on international exchanges. The European currency is now changing hands at some USD 1.4330, up from around USD 1.4250 at midday on September 5. Consequently, the dollar has depreciated roughly 0.6 percent against the euro on global markets since then.
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