The Russian rouble continued to firm yesterday, following the decision by President Boris Yeltsin to nominate former foreign minister Yevgeny Primakov as prime minister.
Russia's lower house of parliament later approved Mr Primakov as prime minister to pull the country out of economic crisis, ending nearly three weeks of political deadlock.
Having been set yesterday by the central bank at 12.8749 to the United States dollar, early trade on the electronic Selt system of the Moscow Interbank Currency Exchange indicated the rouble up at 10.6 for settlement on the day.
Shares on the main RTS Index fell a further 3.54 per cent during the day, although the central bank set its official rouble rate at a firmer 11.4281 for the weekend.
The Duma also approved Viktor Gerashchenko as Russia's new central bank chairman, following the decision by Sergei Dubinin to resign this week.
In a separate address to the Duma Mr Yeltsin said he was confident that Mr Primakov could solve Russia's economic problems.
'The tasks facing the government are difficult - to get prices down, to return goods to the shelves, restore the banking system and guarantee deposits,' he said.