Dollar eases back to five-month low

In the first half of this morning's special session on US currency the average-weighted dollar exchange rate amounted to 31.65 RUR/USD, which was RUR0.06 lower than the previous rate. The same rate was registered some five months ago on September 13, 2002.

Dealers of commercial banks attribute this downward tendency in the dollar rate, which has continued for the fourth working day in a row, to actions of commercial banks that started playing on the difference of quotations at the beginning of this week. Having sold dollars at 31.71 RUR/USD previously, today they have a possibility to buy them at RUR0.06 per dollar less, thus gaining pretty well.

The ruble has strengthened against the dollar by RUR0.19 or 0.6 percent at the UTS since January 10, 2003.

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Author`s name: Editorial Team