Source Pravda.Ru

Russian banks continue large dollar purchases

The weighted average dollar rate in deals with tomorrow settlements remained at RUR30.34 on the Russian market in the afternoon, which corresponds to the official dollar rate set by the Russian Central Bank for August 8. Analysts reported that domestic commercial banks were still quite active. A large trade volume, which had exceeded $100m as of 3 p.m., testified to this activity.

Meanwhile, the number of deals reached only 79. This means that market participants are buying dollars in large lots, an average of $1.3m, in the afternoon like this morning.

Commenting on policies of the Russian Central Bank, currency experts noted that it was selling dollars for RUR30.35. As a result, even the high on dollar did not surpass this level.

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