Dollar continues going up at UTS

The weighted average dollar exchange rate on today deals amounted to 30.51 RUR/USD at the beginning of a special session today, which was RUR0.01 higher than the official dollar rate set by the Russian Central Bank for August 29. So, the process of the ruble's weakening against the dollar has continued on the currency market. The dollar has gained for the fourth day in a row, since August 26. At the same time, the activity of commercial banks has been inconsiderable. The drop in participants' interest in buying US currency might be attributed to the fact that tomorrow deals are not made at the UTS since Labor Day will be celebrated in the USA on September 1, which will be a day off.

Another reason for the low volume of currency bought is the tense situation on the market of ruble resources. At 10:30 Moscow time, one-day ruble credit rates were from 8 to 11 percent. Taking into account the coming weekend, these rates were at least 24 percent.