Source Pravda.Ru

Dollar rate to stay below RUR31.56-31.57 until end of week

The foreign currency trade remains as calm as ever, a dealer of a large Moscow bank said in an interview with RBC. "We're having relatively expensive rubles and rather aggressive clients' activity in selling dollars, so the dollar exchange rate is not rising at the unified trading session so far and is staying above RUR31.50 probably only thanks to the Russian Central Bank and bidding traders. Banks are not seeking to increase the volume of dollars they are buying, since they fear one more outburst of credit rates on the interbank credit market may take place". However, according to the expert, if the situation settles down, the dollar exchange rate may start growing and reach RUR31.58. Before the end of this week, though, dollar exchange rate is likely to remain within the RUR31.52-31.56 range, the expert said.

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