For the first time after May 2005 exchange rate of a dollar dropped below 28 rubles

MOSCOW, 24 January, Caucasus Times. According to ITAR-TASS, this Tuesday exchange rate of American currency dropped by 6.14 copecks. During two last days, dollar fell by 30 copecks.

Depreciation of a dollar is going on much faster than it was estimated earlier taking into consideration fluctuations of euro-dollar in the range of 1.2250-1.2305 dollars per euro.

Analysts believe that the fall of American currency is caused by the statements of the heads of the Federal Reserve System about the possibility of the end of a cycle of high interest rates in the USA.

In the meantime, representatives of European Central bank made statements about the possibility of higher interest rates in the current quarter, which supported the euro. Bank of Russia is also currently not taking measures to support American currency.

Caucasus Times

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