Source Pravda.Ru

Central Bank Continues To Contain Dollar Rise

After a short break in the morning, the dollar rate has again reached the level of 29.95 rubles per dollar on the inter-bank market in the afternoon of December 6, the second business day of the week. Accordingly, deals were made at a level 3 kopecks higher than the official rate for December 7 at the afternoon trading session of Thursday, which increases the probability of a rise in the weighted mean dollar rate on the last Unified Trading Session of this week on Friday. Anyway, it guarantees that the dollar rate will remain at the previous level. Explaining some increase in the exchange rate on the inter-bank market, experts remarked on a reduction in the interest rates for one-day credits in rubles after the end of the first trading session for US currency. They told RBC that the credit rates for 'first-class' banks had reached 5-6% as of 2 p.m. Moscow time, and for 'second-class' banks the corresponding figures were 8-9%. The experts pointed out that the Central Bank had continued its presence on the inter-bank market, having placed a selling order for dollars at the rate of 29.95 rubles per dollar. Therefore, the Central Bank has been containing an increase in the dollar rate at the second trading session for the 13th business day in a row since November 20. In the meantime, the activity of banks in buying dollars during the afternoon trade today has so far been rather low, but the Central Bank is not stopping its interference in the events on the currency market.