Dollar retreats at UTS - 10 February, 2003

The average-weighted dollar exchange rate amounted to 31.82 RUR/USD in the first half of this morning's session. So it dropped by RUR0.02 compared to the previous figure.

Dealers of commercial banks pointed out that the decrease in the dollar at today's special session was amid favorable ruble liquidity at commercial banks and a lack of ruble deficit on the market. So, the reason for the decrease was not a lack of ruble resources at banks. Specialists link the strengthening of ruble at the UTS to a large supply of dollars due to the selling of export currency revenues.

Evidence of the large selling of US currency at the special session is a pretty high volume of the trade, which exceeded $71m at 10:25.