Source Pravda.Ru

Central Bank sells $20m at UTS

The trade volume of today's UTS was almost 4 times lower than it was yesterday. It decreased by almost $283m, compared to the special session on March 4. Specialists point out that yesterday's massive selling of dollars by commercial banks has resulted in a noticeable decrease in dollar supply today.

According to dealers, on March 4 at least $600m were sold at the morning session and on the interbank market, including some $500m that were purchased by the Central Bank. Probably, banks expected the dollar rate to go down further and decided to buy US currency at a lower rate today. However, the demand for dollars has resulted in the increase in rates for US currency.

Having realized this situation, the Central Bank has started to sell dollars today. According to experts, the Central Bank's currency intervention at today's UTS was about $20m.

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