DOLLAR SUBSIDES AGAIN ON FRIDAY

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MOSCOW, June 12 (RIA Novosti) - On Friday the rate of the dollar subsided, given the low activity of the market. In the opinion of experts, the lack of desire of the banks to take on new risks is due to the continuing crisis of confidence in the Russian banking system.

At the MICEX Unified Trade Session, the dollar rate for tomorrow subsided by 1.37 kopecks to 29.0287 roubles to the dollar. In comparison with the Thursday indicator, the decrease is 1.37 kopecks. The Bank of Russia's official rate for June 12 is at the same level.

According to dealers, in the morning the UTS opened with the lowering of quotations: 29.01-29.02 roubles/dollar in today calculations, 29.02-29.04 rouble/dollar in tomorrow calculations.

Throughout the trade session, the range of fluctuations remained actually the same. Activity on the market was very low: by 11:30, Moscow time, the total UTS volume was 150 million dollars.

The "lengthy days-off" factor has played the role, experts believe. In addition, the recent banking-sector developments still have had a negative effect and hindered the activities of banks.

Still, the dollar/rouble rate is kept up by the continuing strengthening of the dollar relative to the world currencies on the world financial market against the background of the early-rise expectations regarding the United States Federal Reserve System's discount rate.

For the same reason, the euro-rouble rate is suffering losses, having lost almost one rouble (actually, 95.22 kopecks) in the last three days. On Friday the euro rate at the UTS MICEX continued to subside to 34.8485 roubles/euro, decreasing by 18.89 kopecks from Thursday. The June 12 Bank of Russia official rate is 34.8954 roubles to the euro.

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