Dollar rate starts growing at UTS - 17 March, 2003

Early at this morning's US dollar session, the weighted average exchange rate amounted to 31.39 RUR/USD, gaining RUR0.01 as compared to the previous level. Commercial bank dealers link the weakening of the ruble against the US dollar to the approach of the dollar rate at the UTS to the rate on the interbank market, registered on the previous business day on March 14. Specialists point out that on March 14, the weighted average exchange rate did not go below 31.39 RUR/USD on the interbank market. At today's special session, it reached this level, too.

Experts attribute the exceeding of the official dollar rate on the interbank market by RUR0.01 to the actions of the Russian Central Bank, which was actively buying dollars both on the interbank market on Friday and at this morning's session. According to dealers, the Central Bank's ruble intervention on the currency market has been registered this morning, too.