Volume of trading on interbank market remains low

The volume of dollar trading exceeded $9m at today's morning session withtomorrow settlements. Nevertheless, on Friday, August 30, the volume oftrading reached almost $650m on the interbank market with one-day andtwo-day settlements. Dealers of commercial banks drew attention to the fact that marketparticipants had been very active on the interbank market on August 30,despite the end-of-month factor that normally leads to significant rubledeficit on the market. Last Friday, banks were suffering from some problemswith ruble liquidity in the morning only. But by the evening, one-day rublecredit rates didn't exceed 3-4 percent, experts noted. They reason low volume of trading on the interbank market this morning dueto a slight increase in ruble credit rates and satisfied demand of banksfor currency as a result of large-scale dollar purchases last Friday..

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