Dollar rate unchanged at UTS - 5 February, 2003

At the beginning of this morning's session on US currency the average-weighted dollar exchange rate amounted to 31.84 RUR/USD, which was the same as the previous figure. In fact the current rate is the same as the official dollar rate on November 26, 2002.

Dealers of commercial banks attribute the lack of the growth in dollar quotations at today's UTS to operators' fears of a possible emergence of a ruble deficit. According to specialists, ruble liquidity of commercial banks may worsen in the near future, because large ruble resources may be directed to today's auction of the Finance Ministry on state short-term and federal loan bonds and due to the coming payments to the obligatory reserve fund. The current dollar supply is still noticeably higher than the demand, experts pointed out.