Exchange Rate To Fluctuate Within RUR/USD 29.68 And 29.75 In Near Future

No sharp changes in the dollar exchange rate should be expected in the near future, specialists noted in an interview with RBC, commenting on the morning unified trade and SELT. Market participants want to understand what the further plans of the Central Bank are and only then they may start speculating for a rise or for a fall. Traders realize that the Central Bank is controlling the Russian currency market and it is unwise to act against its plans. Commenting on other factors that can influence currency trading today, analysts mentioned that a reduction in the volume of currency export revenues should promote a rise in the dollar. They explained that less and less export revenues are coming to Russia in view of a drop in oil prices. On the other hand, the present low ruble liquidity level may lead to an insignificant drop in the dollar. In any case, the exchange rate will not fall below a level of about 29.65 or 29.66 rubles per dollar.

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