Experts on latest developments on Russian currency market

The weighted average dollar rate was RUR 31.38 at the beginning of this morning's trade on the Russian currency market, remaining unchanged for a whole week, since March 21. Currency analysts linked the unchanged dollar rate to banks unwilling to spend limited ruble resources on dollar purchases but planning to place these rubles as credits instead. A bank expert reported to RBC that one-day ruble credit rates reached about 4 percent this morning which makes 12 percent taking into consideration the following Saturday and Sunday. This will make a good profit compared to almost zero cost-effectiveness of purchases and sales of dollars.

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Author`s name: Editorial Team