Source Pravda.Ru

Central Bank stays away from UTS - 10 September, 2002

The Central Bank has not carried out open currency interventions to supportthe ruble at the morning session and on the interbank market this week, anexpert of a commercial bank said in an interview withRosBusinessConsulting. According to him, the fact that the average-weighteddollar exchange rate did not change at today's special session and remainedat yesterday's 31.63 RUR/USD level, should not be attributed to the CentralBank's support.Indirect evidence of the Bank's non-participation at today's UTS is thevolume of trade, which was $10m lower than the previous rate. As a result,this volume amounted to less than $70m, which has been the lowest figureover the past two weeks, since August 28. The analyst believes that thecurrent low volume of the trade at the interbank market proves that theCentral Bank did not interfere in the trade on the interbank market before12:00..

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