Dollar Tare Remains Low on Interbank Market

This morning, even the high on US dollar deals with tomorrow settlements have not exceeded 31.70 RUR/USD on the interbank market. The interbank dollar rate has thus been only RUR0.03 higher than the official rate for Tuesday, October 15. On October 14, Columbus Day is being celebrated in the USA; this is why the morning US dollar session and the trade with one-day settlements are not held on MICEX today. Meanwhile, the situation on the market of ruble resources has continued contributing to an increase in the dollar rate. As commercial bank specialists reported to RBC, one-day ruble credit rates are currently 5 to7 percent, which is rather low. At the end on the previous business day on October 11, one-day ruble credit rates did not exceed 4 percent. However, though the US dollar rate is not high on the interbank market, trade participants have remained rather passive.