Russia c.bank shifts bid level-dealers

MOSCOW | Mon Nov 9, 2009 2:28am EST

MOSCOW Nov 9 (Reuters) - Russia's central bank on Monday shifted its intervention bid level after buying $700 million on the forex market, dealers said.

The regulator moved its intervention bid level to 35.25 roubles per euro/dollar basket RUS=MCX, used for guiding the rouble's nominal exchange rate policy, from the previous 35.30, dealers said.

At 0725 GMT, the rouble traded at 35.29 against the basket, 10 kopecks stronger from Friday's close.

The rouble has firmed about 8.5 percent against the basket since its rally began in early September, recovering nearly half of its losses incurred during gradual depreciation a year ago.

The rouble also continued its upward march against the dollar RUB=, which has been weakening globally. The rouble firmed to 28.84 per dollar early on Monday, its strongest level since December 2008.

(Reporting by Andrei Ostroukh; writing by Lidia Kelly)

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