Dollar rate returns to previous month's level

The weighted-average dollar rate declined by RUR0.03 to RUR31.44 per dollar during the morning trading session on Tuesday, July 30. Therefore, the exchange rate has fallen to the level achieved over a month ago, since the same exchange rate was registered at the Unified Trading Session as long ago as June 20. Commercial bank experts remarked on the fact that the strengthening of the ruble could have been more substantial without efforts by the Central Bank, which conducted a ruble intervention at the Unified Trading Session today. The experts pointed out in an interview with RBC that the Central Bank had been buying dollars at the level of RUR31.44 per dollar to prevent the weighted-average rate from falling below that level. The experts estimated the amount of dollars bought by the Central Bank at the special trading session on the second business day of the week at about $50m. The total trade volume exceeded $85m this morning, of which deals by the Central Bank made up over 50%, the experts underlined.

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