Experts Do Not Anticipate Serious Changes In Exchange Rate

In the opinion of foreign exchange experts, no significant changes will occur on the Russian currency market in the next few days. A lot will depend on the Finance Ministry and the Central Bank's activities aimed at pegging the dollar exchange rate at a level of 29.50 rubles. The question is how much the Finance Ministry and the Central Bank are interested in the rate fluctuation within a range of 29.40-29.47 rubles. The experts surmise that authorities do not want to let the dollar go beyond this range. On the other hand, traders do not seem to be disposed toward changes in the dollar rate either, otherwise the trading volume would have been larger considering the current balance of correspondent accounts on the interbank market. The majority of traders must have decided not to hurry and try to understand the strategy of the Finance Ministry and the Central Bank with regard to the regulation of the exchange rate dynamics.