Source Pravda.Ru

Commercial banks resume buying dollars

Experts believe today's rise in the dollar against the ruble may be due to the fact that commercial banks resumed buying dollars after almost a week-long pause. Analysts report that the higher activity of dollar buyers was triggered by the Russian Central Bank starting to buy dollars on late June 9, thus hampering the further strengthening of the ruble. In spite of the fact that the Central Bank's interventions were insignificant, these measures were sufficient to push the dollar higher on the Russian currency market, experts note.

Some commercial banks have predicted today's rise in the dollar rate and followed the Central Bank. Nevertheless, the volume of trade has been unsubstantial as yet.

© &to=http://www.rbc.com' target=_blank>RBC

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