Source Pravda.Ru

Central Bank Resumes Currency Interventions On Russian Market

The Russian Central Bank has resumed currency interventions after a rather long break today. A banking specialist reported in an interview with RBC that the Central Bank was selling dollars for 30.35 rubles on the interbank market today, which led to a noticeable drop in the dollar rate. At the same time, the bank was selling dollars for 30.28 rubles at the morning trade. In addition to currency interventions, a significant deficit in ruble assets also promoted the strengthening of the ruble rate today. In particular, one-day rubles credit rates reached no less than 20 per cent in large banks. As a result, the dollar exchange rate on the interbank market was not much higher than the official exchange rate set by the Central Bank unlike the situation observed yesterday. Commenting on the dollar rate dynamics at the morning trade, experts noted that it will most likely drop to 30.28 rubles.

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