Dollar continues falling at UTS

At the beginning of this morning's session on US currency the weighted average dollar exchange rate of deals with tomorrow settlements amounted to 30.72 RUR/USD, which was RUR0.11 lower than the official dollar rate set by the Central Bank at 30.83 RUR/USD for May 26.

This has been the largest one-day weakening of the dollar rate over the past several years. Dealers of commercial banks link this considerable strengthening of the national currency to a three-day break in trade at the UTS due to celebrations of Memorial Day in the USA on May 26. Dealers point out that exporters have accumulated a large amount of export currency revenues over this period of time and this caused the dollar's drop by 0.3 percent.

At the same time, experts are noticeably surprised with today's strengthening of the ruble, because on May 23 Russian Finance Minister Alexey Ulyukayev declared that the ruble rate would be about RUR32 per dollar in a year. So he urged everybody who had some inconsiderable dollar savings not to worry about the decrease in the US currency rate.

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