Source Pravda.Ru

Central Bank hampers dollar growth on interbank market

In contrast to today's morning session on US currency, the Central Bank isactively participating in the trade on the tomorrow deals on the interbankmarket, experts of some commercial banks stressed in an interview withRosBusinessConsulting. They pointed to the fact that the Central Bank hasbeen making currency interventions during the afternoon session preventingthe growth in the dollar exchange rate above the 31.67 RUR/USD level. TheBank has been selling dollars at this rate, which is the same as theofficial dollar exchange rate, the experts noted.At the same time, they stress, the high of these deals has already reachedthe 31.70 RUR/USD level. Probably, this is due to an inconsiderablecurrency intervention of the Central Bank. They do not rule out that theBank will not be selling US currency in large amounts, as the volume of theCentral Bank's gold and currency reserves has decreased by $500m over thepast three weeks..

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