Dollar goes up on Russian market - 11 April, 2003

The weighted average dollar rate was RUR 31.29 at the early morning trading session, which was RUR 0.01 higher compared to the previous close, currency analysts from domestic commercial banks reported to RBC. The high on dollars reached RUR 31.3. The dollar rate had remained unchanged on Unified Trading Sessions for four consecutive days, starting on April 7 and the previous rise was registered on March 18. Experts attributed an increase in the dollar rate to a very favorable situation with ruble liquidity at commercial banks. One-day ruble credit rates were only 0.75 to 1.5 percent this morning, which makes no more than 4.5 percent taking into consideration the upcoming weekend.