Dollar surging at UTS

The average weighted dollar exchange rate on tomorrow deals amounted to 29.06 RUR/USD at the UTS this afternoon. The high on the deals has been 29.08 RUR/USD. These figures are 0.01 rubles and 0.03 respectively higher than the official dollar exchange rate set by the Central Bank for June 3. As such, the dollar continues strengthening against the ruble on the market.

According to commercial bank dealers, the main reason for the dollar's strengthening remains a favorable situation with the ruble liquidity. At present, one-day ruble credit rates amount to only 2 to 3 percent, experts told RBC. Moreover, an increase in the dollar is likely to correspond to the interests of the Central Bank. In any event, the Central Bank has not made efforts to prevent the ruble from weakening yet.

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Author`s name: Editorial Team