Dollar goes back into retreat

The weighted average dollar rate with tomorrow settlements amounted to RUR30.30 in the early trade today, down RUR0.05 against the official dollar rate for June 25. The ruble began to strengthen against the dollar again after three days of falling at the UTS.

Commercial bank dealers believe the main reason for today's sag in the dollar rate is the Central Bank's unwillingness to support the dollar at the previous level of RUR30.35. Meanwhile, knowing that the dollar sellers have been lacking in activity as yet, the Bank could have easily kept the dollar rate from falling, experts stress. Analysts point to the fact that although yesterday commercial banks actively sold dollars with tomorrow settlements at the UTS, the dollar rate did not drop against the ruble. With the volume of trade reaching only $2m now, the dollar has already sagged RUR0.05 against the ruble.

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Author`s name Editorial Team