Dollar increase does not worry Central Bank

A rise in the dollar rate has continued on the interbank market. The weighted-average exchange rate for "tomorrow" deals reached RUR31.84 per dollar, and the deals of the highest volume were made at the level of RUR31.85 per dollar. Therefore, the level of deals on the interbank market has exceeded the official exchange rate by RUR0.01-0.02. Commercial bank dealers remarked on the fact that the Central Bank had not been containing the rise in the dollar rate. On the contrary, in their opinion, the Central Bank has continued to buy foreign currency on the interbank market, supporting the increase in the exchange rate. A rather high trade volume indirectly indicates the Central Bank's participation in trade on the interbank market. For example, the trade volume for January 31 deals reached about $80m, and the corresponding figure for deals to be completed on February 3 was $50m as of 2 p.m. In total, the trade volume on the interbank market has already exceeded that at today's Unified Trading Session by almost 1.5 times.

© &to=http://www.rbc.com' target=_blank>RBC