Source Pravda.Ru

Banks decrease their presence on currency market

The weighted average dollar exchange rate on tomorrow deals amounted to 30.66 RUR/USD at a special session at 11:30 Moscow time today. It means that the official dollar rate for September 13 to 15 will remain at the same level as on September 12.

Specialists attribute this standstill in the dollar rate to the extremely low interest of commercial banks in operations on the currency market. Some analysts said in an interview with RBC that banks tried to eliminate the deficit of ruble resources and paid little attention to dollar deals. Banks still do not want to sell US currency and prefer to use other deals to improve the situation with ruble resources. The purchase of dollars is too risky currently amid the considerable lack of ruble resources.

As a result, the volume of trade was less than $12m in the first 90 minutes of trade at a special session for tomorrow deals. Yesterday this figure was $9m.

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