Alfa Bank expert comments on dollar rate dynamics

The dollar exchange rate saw a slight rise on the Russian currency markettoday, Igor Vasilyevm an official from Alfa Bank, reported in an interviewwith RBC. However, as soon as the dollar rate hit RUR 31.60, the CentralBank started currency interventions to prevent the further rise in thedollar rate. Nevertheless, the volume of dollars purchased from the CentralBank was not that high, the expert stressed. He noted that one-day rublecredit rates are rather low now, so banks are ready for a further rise inthe US currency rate. At the same time, it seems that the level of 31.60RUR/USD suits the Central Bank, and it will prevent the further growth. Inother words, the further dollar rate dynamics will depend on policies ofthe Central Bank..

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