Source Pravda.Ru

Experts report ruble deficit on Russian currency market

The balances of correspondent accounts at Russian commercial banks droppedsignificantly as of the beginning of September 13. This reduction made upmore than 6bn rubles (about $190m) in Russia and more than 5.5bn rubles(about $174m) in Moscow and the Moscow region, currency analysts reportedin an interview with RBC. As a result, the domestic currency market saw aslight worsening of the situation with ruble liquidity and a ruble deficit.Specialists noted that one-day ruble credit rates were about 6 percent inthe afternoon today, which meant that ruble credit rates actually reached18 percent taking into account the upcoming weekend. The ruble deficit ledto a fall in the weighted average dollar rate on the interbank market byabout RUR 0.01 like at the morning trading session earlier today.As of now, the weighted average tomorrow deal on dollars reached about RUR31.66, which is only RUR 0.02 higher than the official dollar rate set bythe Central Bank for Monday, September 16. Experts also reported asignificant fall in the trade volume. It amounted to $7m as of 12 as compared to $61m registered on the interbank market yesterday..