Central Bank strengthening ruble

The weighted average dollar exchange rate on tomorrow deals amounted to 28.51 RUR/USD at this afternoon's special session. This figure equals the official exchange rate set by the Russian Central Bank for April 10-12. At the same time, the low on the deals is 28.485 RUR/USD. As such, this afternoon's situation on the UTS has not changed against this morning's and dollar quotes remain at the same level.

Commercial bank dealers draw attention to the fact that the Central Bank is preventing the ruble from strengthening now, the same as it was doing this morning. According to experts, the Central Bank is actively buying US currency, thus preventing the ruble from strengthening considerably. Experts concede that another aim the Central Bank pursues is an increase in its gold and currency reserves.

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Author`s name Editorial Team