Dollar rate retreats amid ruble deficit

The weighted average dollar exchange rate on tomorrow deals amounted to 30.68 RUR/USD in the first half of a special session this morning, which was RUR 0.02 lower than the official dollar rate set by the Russian Central Bank for September 17. Commercial bank dealers attribute this sag to the remained deficit of ruble resources on the market. It is testified to by one-day ruble credit rates that have been from 9 to 12 percent this morning. Yesterday, they were some 20 percent. Nevertheless, banks are not eager to sell dollars hoping to eliminate the deficit of ruble resources without active selling of US currency. The dollar supply has been very inconsiderable. The trade volume was only a bit higher than $4m in the first 30 minutes of trade at the special session.

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