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Dollar staying at RUR27.97
RBC, 14.05.2005, Moscow 14:36:51.This afternoon, at today's special dollar trading session for tomorrow deals, the high on deals was still registered at RUR27.97 per dollar, and the low on deals was considerably below that level. As a result, the weighted average dollar exchange rate is still coinciding with the official rate set out by the Bank of Russia for May 15-16. At that, commercial banks are gradually cutting down dollar acquisition, low enough as it was, apparently doubtful about the optimistic outlook for the dollar on international exchanges. The trade volume, fixed at a little more than USD162m at 1.30 p.m., bears witness to the low interest in dollars on the part of session participants. Today, no trade is being held on MICEX, including euro transactions, except for dollar trading for tomorrow deals. These circumstances are constraining the desire of UTS participants to speculate in the ruble-to-dollar segment, and is obviously facilitating low activity on the part of commercial banks.
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