Dollar eases back at UTS - 12 August, 2003

The weighted average dollar exchange rate on tomorrow deals amounted to 30.35 RUR/USD this morning, which was RUR0.03 lower than the official dollar rate set by the Russian Central Bank for August 12. So, the ruble has strengthened at the UTS for the second working day in a row. As reported earlier, yesterday US currency retreated by RUR0.02.

Specialists of commercial banks point to the fact that the dollar eased back amid low activity of traders, like it was yesterday. According to commercial bank experts, there is practically no demand for US currency at the special session currently and the supply of dollars is also very inconsiderable. Analysts think that banks are watching the development of the situation on the currency market and they do not hurry either to sell or to buy US currency. This low activity is testified to by the trade volume at the UTS for tomorrow deals, which amounted to only $1.5m in the first 20 minutes of the special session.