Dollar drops due to ruble deficit
The weighted average dollar exchange rate was RUR 31.71 in the first half of this morning's trading session, which was RUR 0.03 lower as compared to the previous closing. Banking experts linked this significant strengthening of the ruble rate at the UTS to a sharp deficit of ruble resources on the domestic market prior to the end of the month, when a ruble deficit is usually observed at Russian commercial banks. A currency analyst reported in an interview with RBC that one-day ruble credit rates were at 30 percent this morning against 25 percent yesterday evening. As a result, even the high on dollars does not surpass RUR 31.71.