Dollar rate continues to fall

The weighted average dollar exchange rate was RUR 31.82 at today's early morning trading session. This means that the dollar dropped RUR 0.01 against the previous closing and now it corresponds to the official dollar rate for November 13, 2002, which was two months ago.

Experts linked today's fall in the dollar rate at the UTS to some increase in ruble credit rates. They reported that one-day ruble credit rates were 3.5-4.5 percent this morning compared to no more than 1 percent on Friday evening, January 10. Another factor was significant offers of dollars on the domestic currency market, which is most likely due to sales of export revenues.