Central Bank Keeps Ruble From Falling

The Central Bank of Russia sold about $400m at a currency trading this morning, in order to avoid a sharp ruble fall. Banking experts accept the possibility that the volume of currency intervention during the first trading on the unified trading system amounted to around $500m. They drew attention to a high volume of trading that exceeded $675m today. Compared to previous trading sessions, it increased six times as much. As a result of such active measures of the Central Bank aimed to support our national currency, the dollar exchange rate went down by the end of today's special trading session. The low deal was made at the 30.47-ruble level and the last one was concluded at the 30.49-ruble level. As a result of that, the average-weighted dollar exchange rate (30.58 RUR/USD) was 1 kopeck lower, compared to traders' expectations. Experts mentioned that the Central Bank interfered in the process of trading only this morning. In addition, the bank wasn't noticed in the interbank market at least this morning.

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