The euro continues to decline on the world and Russian markets. Yesterday, the official rate of the unified European currency was marked at 33.62 RUR, its lowest value since the beginning of September 2003.

The value of the euro against the ruble began to decline at the beginning of February, but on February 13th, took a sharp decline of 20 kopecks to 33.62 RUR. In world markets, the dollar reached its highest mark against the euro for the last six weeks, valued at 1.189 euros. The reason for this, say analysts, was speculation concerning optimistic data about growing sales and manufacture statistics in the USA. However, analysts believe this speculation will be short-lived as the Federal Reserve will like raise its discount rate again, driving speculation in the other direction.

The euro’s decline will likely not continue long. The coming meeting of the Fed will be guided by economic statistics from the US and Europe. “There are sufficiently enough encouraging statistics in the European Union, and not so many in US, to encourage growth” - said one analyst. “I don’t rule out that we won’t see an about-face made by the dollar” Overall, the dollar should lose value, given the deficient in the balance of payments for the US budget. “After one or two increases in interest rates, the process will return to its former direction and the dollar will be weaken.” Experts seem to be almost unanimously in agreement about this.