Dollar edges higher at UTS

The weighted-average dollar rate with tomorrow settlements totaled RUR30.26 in early trading today, up RUR0.01 against the official dollar rate for today. Commercial bank dealers link this slight surge in the dollar rate to a certain recovery of ruble liquidity. Experts told RBC that one-day ruble credit rates were 11 to 13 percent this morning, down from yesterday's 25 percent. The removal of the strain on ruble liquidity on the Russian market has allowed banks to cut the volumes of dollar sales. Over the first ten minutes of trade, the volume of trade amounted to only $70,000, and only 2 deals were registered.

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