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    REACTION OF EXCHANGE MARKET TO PRESIDENT'S PROPOSAL TO APPOINT MIKHAIL FRADKOV AS RUSSIA'S PREMIER WAS NEUTRAL

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    MOSCOW, March 1 (RIA Novosti) - The reaction of the foreign exchange market to the Russian president's proposal to appoint Mikhail Fradkov as premier was neutral, said a spokesman for a commercial bank's department for transactions on foreign exchange markets. Quotes in foreign exchange trading on the Moscow Inter-Bank Currency Exchange (MICEX) were 28.52-28.53 rubles per dollar before the media reported the president's decision.

    After this decision of the president was vocalized by the media, this band shifted to 28.53-28.54 rubles per dollar. "This growth need not be linked with Fradkov's appointment," the source added.

    The average weighted exchange rate of the dollar at the unified trading session of the Moscow Inter-Bank Currency Exchange (UTS of MICEX) with settlement for tomorrow was 28.5162 rubles per dollar. Compared with Friday's index, it grew by 0.06 kopeck.

    Today Vladimir Putin suggested that Mikhail Fradkov be appointed head of the cabinet of ministers. At the present time Fradkov is a special envoy of the president of the Russian Federation on relations with the European Union.

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