English Language & Usage Stack Exchange is a question and answer site for linguists, etymologists, and serious English language enthusiasts. Join them; it only takes a minute:

Sign up
Here's how it works:
  1. Anybody can ask a question
  2. Anybody can answer
  3. The best answers are voted up and rise to the top

The Russian ruble strengthened the most since September 2012, adding 1.6 percent to 35.2230 per dollar by 6 p.m. in Moscow and trimming its quarterly decline to 6.8 percent. The Micex Index (INDEXCF) added 1.9 percent to 1,369.29 by the close, the highest since Feb. 28. That cut its three-month drop to 9 percent.

What does by the close mean in this excerpt?

share|improve this question
Markets close and open. And that part means it closed at that price. – Noah Apr 1 '14 at 12:34
Because‎‎‎‎‎‎‎ ‎‎‎‎‎‎‎unicorns. – tchrist Apr 1 '14 at 12:41
up vote 1 down vote accepted

Currencies are not traded on the various foreign exchanges in the same way as stocks & shares. In the latter case the exchanges close at a specified hour, each day, after which there is no more trading. So it is clear what the opening and closing prices are.

With currencies there is no regulated exchange. The 'FX market' consists of a network of financial institutions and retail trading brokers which each have their own individual hours of operation. Most operators, however trade between the hours of 8.00am and 4.00pm in their time zone.

But it does mean that the daily 'closing price' in London for each currency will precede by about 5 hours the closing price in New York. But to all intents it is a global market place. By the time London closes New York is open, by the time NY closes Tokyo, Hong Kong and Singapore are open. And by the time they close London is open again. So it is a round-the-clock business.

So the term by the close by itself is meaningless. For relevance it has to say 'By the close in London/New York/Tokyo etc'.

Having said all of that it has been pointed out to me that the OP's article was not at that point talking about the closing price of a currency, but about the Micex exchange. So the closing price would be the price ruling at the time of the close of the exchange for that day's trading.

share|improve this answer
I believe Micex is the Moscow stock exchange, so the article is correct. – TimLymington Apr 1 '14 at 11:33
@TimLymington Sorry, yes you are right. Because the OP had begun by talking about the price of the Rouble I had assumed it was the currency market. – WS2 Apr 1 '14 at 12:18

It means that the Index closed at the value of 1369,29.

share|improve this answer
This isn't exactly an explanation. Can you possibly expand it a bit for the OP? – medica Apr 1 '14 at 12:06

If we go by what happens at trade markets, it literally means, by the end of the day. Because trade markets generally open in morning and closes in evening. So, by the close means by the time the trade market is closed.

share|improve this answer

Your Answer


By posting your answer, you agree to the privacy policy and terms of service.

Not the answer you're looking for? Browse other questions tagged or ask your own question.