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    RUSSIAN ECONOMIST: BY AUTUMN 2004 DOLLAR'S EXCHANGE RATE WILL GO DOWN TO 1.4 PER EURO

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    MOSCOW, January 26 (RIA Novosti) - By this year's fall, the US dollar's exchange rate will go down to 1.4 dollars per euro, well-known economist and deputy director general of the Russky Aluminy (Russian Aluminum) company, Alexander Livschits said at a press conference in RIA Novosti on Monday.

    "The dollar will be slowly falling during the six months to come. The point of equilibrium will be reached by this year's fall and will be 1.4 dollars per euro," Livschits said.

    According to him, this will be followed by a period of comparative stabilization of the exchange rate which will, in turn, be replaced by a reverse tendency - the strengthening of the dollar. Livschits believes that by the end of the year the dollar's exchange rate will eventually be set at the level of 1.2-1.3 dollars for one euro.

    In the prominent economist's opinion, in 2005 the dollar will oscillate round the mark of 1.2-1.4 dollars per euro.

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