Dollar sees significant growth prior to long holidays

The weighted average dollar exchange rate hit RUR31.81 in the first half of this morning's trading session. It surged RUR0.04 against a RUR0.01 rise observed at the previous special trading session.

Experts from domestic commercial banks explained that the dollar rate was growing due to the upcoming long holidays - November 7 to 9. That is why traders are making significant dollar purchases. The favorable situation with ruble resources promotes large-scale dollar purchases. Specialists reported that one-day ruble credit rates were at about 6 percent this morning as well as yesterday evening. As a result, the trade volume surpassed $30m ten minutes after the opening of the UTS.