Source Pravda.Ru

Dollar rate to be stable until presidential elections

Trade on the Russian currency market started at about 28.50 RUR/USD, which was practically equal to the level of yesterday's closing, experts told RBC TV. The Central Bank will retain the current level of support to US currency till the presidential elections. Payments of value-added taxes will not decrease liquidity on the market considerably and they are unlikely to influence the dynamics of the ruble rate against the dollar, specialists added.

Analysts say that the situation on the Russian currency market has been pretty calm this morning. The dollar has been at RUR28.495 to RUR28.505, while the Central Bank has retained its bid for US currency at 28.485 RUR/USD. There is a pretty large amount of currency on the market and the shift of short-term positions over the upcoming long weekend is unlikely to be a problem. Further developments on the market will depend on activities of the Russian Central Bank.