Dollar drops to 30.70 RUR/USD

The low on the dollar with tomorrow settlements has been 30.70 RUR/USD on the interbank market this afternoon. The weighted average rate has also been lower than the official rate. On the whole, the deals in this sector of the currency market are made at the level about RUR0.01 to RUR0.02 lower than the official dollar exchange rate. Dealers of commercial banks point out that the Central Bank has been practically inactive on the interbank market and has not made any operations to support US currency.

Refusing to make ruble interventions at SELT, probably the Central Bank takes into account today's inconsiderable volume of trade on the interbank market, which has been several millions of dollars. At the same time experts point to the special session for tomorrow deals with the $74m trade volume at 11:30 this morning. The Bank's share in this amount did not exceed 25 percent. Dealers also say that this afternoon the Central Bank's purchases of dollars at the UTS have become more active, however they link it to a noticeable growth in the trade volume, which exceeded $260m as of 14:30.

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