Central Bank sells $300m at UTS

The activity of dollar buyers has been high on the currency market today. The Central Bank is making a large currency intervention to prevent the dollar rate from surpassing the 30.76 RUR/USD rate on tomorrow deals, which is equal to the official rate set for June 5, experts of commercial banks said in an interview with RBC. Some experts believe that the Central Bank sold about $300m at the UTS for tomorrow deals in the first two hours of trade. Specialists point out that the selling of US currency by the Central Bank is of a "latent character", because the Central Bank put on the trade small lots of US currency. However, in fact the Central Bank is selling dollars through several commercial banks in large lots. Dealers point out that at the UTS the volume of tomorrow deals was $318m at 11:30, while only 143 deals were made. So, an average deal exceeded $2m.

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