15:26 GMT +316 October 2018
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    Dollar slips against ruble on. Fed interest rate decision

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    MOSCOW, September 21 (RIA Novosti) - The dollar slipped slightly against the ruble on Thursday after the U.S. Federal Reserve's decision Wednesday to kept interest rates unchanged.

    The Fed left its overnight funds rate at 5.25% for the second straight policy meeting but kept up expectations of a future increase by saying inflation risks in America remained.

    The average weighted dollar rate for contracts with "tomorrow" settlements was 26.7674 rubles during Thursday morning's unified trading session on the Moscow Interbank Currency Exchange (MICEX), down 3 kopeks on Wednesday.

    The MICEX press service said Thursday that dollar deals, worth about $670 million, were closed during the session by 2.30 p.m. Moscow time (10.30 a.m. GMT).

    "The dollar could lose some recent gains by the weekend," Globex Bank expert Vladimir Abramov said. "But it certainly 'ignored' once again a clear negative trend with relation to it."

    The analyst said the dynamics of global commodities markets were keeping the dollar relatively stable.

    "The recent drop in prices for oil, gold and other commodities, which were so popular among investors last year, is forcing them to move assets from these segments to the dollar segment," he said.

    Oil is trading at around $61 a barrel, down from the record high of over $78 in July, on the back of news that OPEC would maintain production targets and Iran's signaling that it would consider compromises over its nuclear programs.

    Market players will have to wait for U.S. macroeconomic statistical data reports due Thursday, including unemployment rates, and major industrial indices, experts from Capital, an investment group, said. They said negative dynamics could lead to the dollar edging down.

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