Dollar keeps plummeting on Russian market

The weighted average dollar rate amounted to RUR30.56 in early trading with tomorrow settlements on the Russian currency market. The ruble strengthened by RUR0.09 against the dollar. As reported earlier, yesterday, the dollar retreated by RUR0.11. Commercial bank experts say this substantial decrease in the dollar rate over such a short period of time was due to potential buyers being reluctant to purchase the US currency. Traders believe commercial banks' waning interest in buying dollars was largely due to the Russian Central Bank's interventions seeking to prevent the dollar strengthening. Moreover, according to experts, the Central Bank is not supporting the dollar now even in the event of the ruble's noticeable rise.

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