Dollar sinks below RUR31.60

Today, the weighted average exchange rate was below 31.60 RUR/USD. At this morning's US dollar session, the weighted average exchange rate was 31.58 RUR/USD at 10:45 a.m. Moscow time. On the interbank market with tomorrow settlements, this figure reached 31.59 RUR/USD. These levels are respectively RUR0.03 and RUR0.02 lower than on Wednesday.

In addition to an increase in sales of foreign currency from export revenues, commercial bank dealers link ruble strengthening to a decline in the activity of the Russian Central Bank regarding dollar purchases. Specialists point out that over the past three business days, including today, the Central Bank has considerably reduced the volume of its ruble intervention as compared to last week. In the opinion of RBC's interviewees, the significant drop in the trade volume on the currency market since the beginning of this week has contributed to a notable drop in dollar purchases by the Central Bank.

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Author`s name: Editorial Team