Dollar goes up on Russian market - 3 March, 2003

The weighted average dollar exchange rate rose RUR 0.02 to RUR 31.59 at the early morning trading session today and the high on dollars reached RUR 31.6. Currency analysts noted that a rise in the dollar rate was registered on the interbank market as well.

Specialists explained that the dollar had increased because there had been no ruble deficit for a long time and due to a favorable situation with ruble liquidity at domestic commercial banks. They stated that one-day ruble credit rates were still at 2-3 percent this morning, like in the evening on February 28.