Dollar eases back at UTS - 19 March, 2003

In the first half of this morning's session on US currency the average-weighted dollar exchange rate amounted to 31.40 RUR/USD, which was RUR0.01 lower than the figure at the previous session. The ruble has strengthened for the first time at the UTS since March 13. As reported earlier, on March 17 and 18 the dollar rate increased by RUR0.03.

The drop in the dollar rate at today's special session might have been due to the increased ruble credit rates. Experts of commercial banks have told RBC that this morning one-day ruble credit rates were 4-6 percent, while yesterday they had not exceeded 2 percent.