Dollar Exchange Rate Not Likely To Rise Today

The dollar exchange rate did not surpass a level of 29.93 rubles on the Russian currency market this morning again, for the third working day in a row. Experts forecasted that the average-weighted dollar rate will not change today and stay at 29.93 rubles. They stressed that the Central Bank is making currency interventions on the interbank market, thus restraining a rise in the dollar rate. Specialists mentioned that the dollar rate reached only 29.93 rubles although the Central Bank was selling dollars for 29.95 rubles. They also reported a drop in ruble liquidity of Russian banks today as compared to the trade in the afternoon yesterday. One-day ruble credit rates went up from 3 per cent yesterday to 7 or 9 per cent at large banks and 8 to 10 per cent at medium-sized and small banks.

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