Source Pravda.Ru

Central Bank supports national currency by massive interventions

The Russian Central Bank was selling dollars actively on the domestic currency market starting at the beginning of trade today to prevent the weakening of the ruble rate, several experts from commercial banks noted in an interview with RBC. One of the analysts stated that three lots - $15m each - had been sold at this morning's session apart from smaller offers. Specialists linked these sales to massive currency interventions of the Central Bank. Traders estimated the total volume of these interventions at no less than $50m, which was a little less than a half of the whole trade volume at the UTS, which surpassed $115m. They did not rule out that the Central Bank was also purchasing dollars at the special session, especially by the closing. Experts stressed that the Central Bank was interfering in the trading session on the interbank market as well.

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