Dollar rate to stay below RUR31.6 before end of August

As experts pointed out in an interview with RBC, the dollar rate edged downtoday. It was largely due to yesterday's dollar selling by the RussianCentral Bank. Additionally, overnight rates grew a little. As a result, toddollar rate dropped to RUR31.5725. "The current situation with rubleresources has settled down, and at the end of the unified trading sessionthe dollar exchange rate posted a small gain to RUR31.58-31.585", expertssaid. "The dollar exchange rate is most likely to remain below RUR31.6before the end of this month, and today's decrease in balances ofcorrespondent accounts may serve as a signal for ruble credit rates togrow, and in that case the dollar exchange rate will decrease a little,too", according to experts..

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