Source Pravda.Ru

Banks cut dollar sales at UTS

Following today's special dollar session with tomorrow settlements, the average-weighted dollar exchange rate reached RUR30.40 as of 11:30 Moscow time. Consequently, the official dollar exchange rate set for August 9-11 gained another RUR0.06. In other words, over the past three days the ruble weakened by 12 kopecks.

According to commercial bank specialists, today's obvious upsurge in US dollar rates is due to a rapid cutback in the dollar supply. Experts accept the possibility that banks started slowing down dollar sales hoping for a further ruble weakening. In other words, traders tend to wait to sell dollars, hoping to gain more from selling them after they grow. In the first 1.5 hours of trade at the UTS the volume of trading was reported as equal to at least $16m, most of which referred to dollar demand rather than dollar supply. As a result, the high on today's deals since the beginning of trade reached RUR30.42.

Comments
Russians tired of Putin's foreign policy
US-Russian confrontation: War is peace, freedom is slavery
Kremlin running out of patience as USA tries to create smoke without fire
The insane idea in Germany: "pedophilia normal love"
Russia's long-range Bastion system follows USS Carney in Black Sea waters
Putin convenes Security Council meeting to discuss new sanctions
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Sanctions and economic warfare. Let God take sides
Caspian Convention challenges Gazprom's rule in Europe
Iran shows new ICBM that can evade radars
How can Americans and Russians understand each other?
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Russia builds new robotic tank invulnerable to mines
Russia builds new robotic tank invulnerable to mines
Russia builds new robotic tank invulnerable to mines
US-Russian confrontation: War is peace, freedom is slavery
Turkey desperately tries to rescue its national currency as it falls to all-time lows
How can Americans and Russians understand each other?
Russian government prepares to get rid of US dollar in economy
US-Russian confrontation: War is peace, freedom is slavery
Russians tired of Putin's foreign policy