Ruble strengthens slightly at UTS

The weighted average dollar exchange rate on tomorrow deals amounted to 30.38 RUR/USD at a special session this morning, which was RUR0.02 lower than the official rate set for August 11. This means that the ruble has strengthened slightly after the drop over the past three working days.

Commercial bank specialists attribute this drop in US currency to a correction after the noticeable strengthening of the dollar. In an interview with RBC some experts mentioned that the ruble had lost RUR0.12 against the dollar in the period from August 6 to 8. Specialists do not think that today's slight retreat was due to some problems with ruble liquidity at banks or the Russian Central Bank's intervention. Dealers pointed out that one-day ruble credit rates were from 1 to 2 percent this morning and the Central Bank had not sold dollars so far.

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