Central Bank continues preventing growth in dollar rate

The tomorrow deals on US currency on the interbank market have not exceededthe 31.60 RUR/USD level. In the second half of August 28 the high and thelow of these deals and the average-weighted dollar exchange rate have alsobeen at the same level. Experts of commercial banks attribute thissituation to the fact that the Central Bank has been selling currency at31.60 RUR/USD at the afternoon session. The Bank continues preventing theadvance in the dollar rate on the interbank market with the help ofcurrency interventions, experts point out. As a result the dollar rate onthe interbank market is only RUR0.02 higher that the official dollarexchange rate set by the Central Bank for August 29.The experts also point to the Central Bank's absence at the previousafternoon session and they attribute yesterday's low volume of deals on theinterbank currency market to this fact. Today at 14:00 the volume of dealsat the afternoon session amounted to $100m, which was 1.5 times higher thanat today's UTS. The experts believe that the Central Bank's share in thevolume of sold US currency is quite considerable..

©

&to=http://www.cbr.ru/eng/' target=_blank>Central Bank