Source Pravda.Ru

Experts Expect Dollar Rate To Reach 29.55 Rubles Per Dollar By End Of Week

The dollar rate may increase to the levels of 29.54-29.55 rubles per dollar by the end of this week. Nonetheless, in reality, a lot depends on availability of rubles on the inter-bank market now. Experts gave this opinion in an interview with RBC, forecasting the course of trade on the Unified Trading Session (ETS) and on SELT. Traders are perfectly aware of the fact that one should not expect any hikes in the exchange rate in the shot term. At the same time, such factors as the volume of available rubles on the inter-bank market and the interest rates for them influence further dynamics of the exchange rate now. At the beginning of this week market participants had to sell foreign currency, because there was a lack of rubles on the market, and the supply of foreign currency was excessive. The experts point out that until traders are convinced that the Central Bank will offer them an opportunity to speculate for a rise, there will not be active demand for foreign currency. At the same time, news that has or may have some effect on the market is generally positive now. It is quite likely that the weight-average dollar rate will finally rise at today's trade on ETS, reaching the levels of 29.53-29.54 rubles per dollar, the experts concluded.

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