Source Pravda.Ru

Banks decrease selling of US currency at UTS

The weighted average dollar exchange rate on tomorrow deals amounted to 29.70 RUR/USD at the beginning of a special session, which is equal to the official rate set for December 4.

Commercial bank dealers point to the fact that the selling of dollars has not been massive today compared to yesterday's trade. Banks sold just $5m in the first 30 minutes of the UTS, while the total trade volume in this sector of the currency market exceeded $800m yesterday.

Experts attribute this drop in the dollar supply to decreased dollar assets and the slight strengthening of the dollar against the euro on the world market. Analysts say that the dollar's weakening against the euro yesterday triggered the massive selling of US currency by Russian banks on the domestic market.