Source Pravda.Ru

Ruble liquidity recovery drives up dollar rate

At the opening of today's morning dollar trade session the weighted average dollar exchange rate was RUR31.82, an increase of RUR0.01 from the previous figure. According to commercial bank dealers, the growth of the dollar exchange rate is due to improved ruble liquidity and the eliminated lack of ruble resources on the market. The Russian Central Bank purchased large volumes of dollars yesterday and thus contributed to the elimination of the lack of ruble resources on the interbank market, dealers pointed out. Pretty low credit rates that are currently being reported are evidence of favorable ruble liquidity. According to experts, today one-day ruble credit rates are 4-6 percent. In the meantime, only yesterday one-day ruble credit rates reached 20 percent.