Central Bank hampers dollar growth at UTS

11.09.2002 04:47

The Central Bank was preventing the advance in the dollar rate at today'smorning session, experts of commercial banks voiced this opinion in aninterview with RosBusinessConsulting.The Central Bank was selling US currency at 31.64 RUR/USD at the UTS today.As a result, the average-weighted dollar exchange rate was on the samelevel. Experts believe that the Bank spent some $20m on its currencyintervention. At the same time the volume of the trade at this morning'ssession amounted to almost $93m. So the Central Bank's share in the totalvolume of these deals was not large. Experts pointed to a large selling ofdollars on the interbank currency market of the tomorrow deals. Theanalysts believe that this supply of US currency might have been made bythe Central Bank..

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