Banking crisis makes dollar advance at UTS

The average weighted dollar exchange rate on tomorrow deals amounted to 29.10 RUR/USD at the beginning of today's session. This figure is RUR0.04 higher than the official dollar exchange rate set by the Central Bank for July 8. At the same time, the high on the deals reached 29.11 RUR/USD. The ruble has weakened against the dollar more considerably at a special session on today deals. The high on the deals amounted to 29.15 RUR/USD here.

As such, the ruble has continued decreasing against the dollar today. As reported earlier, the dollar gained RUR0.01 yesterday. The activity of UTS participants is fairly high today. Half an hour after the opening of the UTS on tomorrow deals, the trade volume reached more than $40m.

According to dealers, the main reason for such a fast pace of the ruble's weakening is the banking crisis that made market participants pay more attention to buying dollars. Credit organizations are sure that the dollar still remains the most reliable saving instrument. The absence of problems with ruble resources at least at first-tier banks also contributes to an increase in buying dollars.