Dollar returns to month-low level

The weighted average dollar rate increased RUR 0.1 by the end of the first morning trading session in 2003. Despite the fact that this rise was the most significant since the beginning of 2002, the exchange rate of 31.88 RUR/USD was only RUR 0.02 more than the official dollar rate as of December 4, 2002. In other words, the official dollar rate practically dropped below a month-low level.

Specialists from commercial banks stated that the Russian Central Bank had not hampered a rise in the dollar rate today and conducted no currency interventions at the UTS. Indirect proof that it did not participate in today's special session was the volume of trade, which surpassed the previous closing at the UTS, on December 27, 2002, by only $46m while the trade volume at the morning session a year ago was several-fold more than that.