Source Pravda.Ru

Dollar rate gains on currency market

At the beginning of today's special session on US currency the weighted average dollar exchange rate on deals with tomorrow settlements amounted to 30.76 RUR/USD. Today deals at the UTS have been made at the same level, while the high on these deals has amounted to 30.77 RUR/USD. So, the dollar has noticeably gained today, because deals on US currency have been made at RUR0.09 to RUR0.10 higher than the official dollar rate. This weakening of the ruble is more considerable than yesterday when the official dollar rate added only RUR0.05.

Dealers of commercial banks believe that the main reason for this growth in US currency against the ruble is the considerable drop in the difference between the dollar supply and the demand. Specialists point out that at present banks are experiencing a shortage of dollars after they were selling US currency for a long time. As a result, the amount of dollar sales has sharply retreated while the demand for the dollar has increased, experts stressed.