Dollar rate rise resumes after one-day break

The weighted-average exchange rate reached RUR31.64 per dollar at thebeginning of the morning trading session for the US dollar. Therefore, itincreased by RUR0.01 compared to the previous level. At the same time,deals of the minimum volume were made at the level of RUR31.64 per dollarduring the first minutes of trade. Commercial bank dealers linked the resumption of the rise in the dollarrate at the Unified Trading Session after a one-day break to a favorablesituation with ruble liquidity and the absence of any deficit of rubles onthe market. The interest rates for overnight credits in rubles were atabout 2% last afternoon. As banking experts reported to RBC, the interestrates for overnight credits had not been exceeding 6% this morning, whichis also a rather low level. As a result, the trade volume exceeded $50m 15minutes after the opening of the morning trading session, and the exchangerate for deals of the highest volume reached RUR31.65 per dollar. .