Dollar goes on rising - 27 June, 2003

The weighted average dollar rate with tomorrow settlements came to RUR30.35 in the early trade today, up by RUR0.01 compared to the official dollar rate for June 27 bringing the ruble further down against the dollar. Dealers remain adamant in attributing the recent dollar rise to commercial bank speculations. Experts point to the deals of high volume still prevailing today, with an average deal on the dollar equaling almost $1m. The volume of trade remains, however, insignificant just as it was yesterday.

Meanwhile, there has been no sign of the Russian Central Bank on the market as yet. Presumably, the Central Bank is satisfied with the current situation on the Russian currency market with a smooth rising of the dollar against the ruble, and prefers to let nature take its course, dealers reckon.