Source Pravda.Ru

Dollar gains on currency market

At the beginning of this morning's session on US currency the average weighted dollar exchange rate on tomorrow deals amounted to 30.74 RUR/USD, which was RUR0.10 higher than the previous level. The ruble has also weakened at the UTS for today deals, where deals are made at the level that exceeds the official dollar rate set for June 3 by RUR0.05. Dealers of commercial banks link this increase in US currency to the low dollar liquidity of commercial banks, which has led to the drop in the dollar supply. Specialists also say that the retreat in the dollar supply is due to a noticeable decrease in export currency revenues. Evidence of this fact is the low volume of deals, experts point out. In particular, at the UTS on June 2, which lasted almost 7 hours, the volume of tomorrow deals amounted to a bit more than $100m, while a week ago, on May 27, the volume of tomorrow deals exceeded $624m, analysts stressed.