Currency market to remain stable

If one thoroughly analyses currency trade over the past few days, one will see that though the Russian Central Bank was not very active, it still held the exchange rate within the current range of 31.85 RUR/USD to 31.865 RUR/USD. It is likely to testify to the fact that the Central Bank is not really interested in changing the current market situation, an expert of a large commercial bank said in an interview with RBC commenting on the afternoon currency trade. Market equilibrium is currently preserved; there are many dealers who have stopped active work and prefer to operate within a very short term.

As before, ruble credit rates have been rather low on the interbank market today; but despite this, there is no large demand for US dollars. As for forecasting the situation for the next week, one could have the impression that traders are not buying dollars actively, as the Central Bank has not displayed a wish to have an upward trend on the market so far. Eventually, the current corridor for the dollar rate will most likely be preserved on the market until December 16, 2002. No one is expecting a considerable rise or fall in the dollar rate. However, the market dynamics could change if the Central Bank would like it to.

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