Dollar declines at UTS

The weighted-average exchange rate of the US dollar at the special trading session for tomorrow deals reached 28.87 RUR/USD this afternoon. This is RUR0.03 less than the official dollar exchange rate set by the Russian Central Bank for May 6. The low on deals has reached 28.85 RUR/USD. Therefore, the dollar continues sliding against the Russian currency at the UTS. Yesterday it lost RUR0.06 against the ruble.

The ruble liquidity has worsened, and this is a leading factor spurring the dollar's decline. Interest rates on overnight ruble-denominated loans total 13-15 percent, which is substantially higher, compared to yesterday's level. On international exchanges the euro is gaining against the US currency. The European currency is now trading at $1.2160-$1.2170 compared to $1.2110-$1.2120 yesterday. Therefore, the dollar has shed 0.4 percent against the euro.

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