Source Pravda.Ru

Experts forecast dollar fluctuations

In August, the trade on the currency market is likely to remain between31.55 RUR/USD and 31.60 RUR/USD. The current dynamics shows that dealers donot strive at buying because they fear a new activation of the Central Bankof Russia and its interventions. Export revenues for oil at current highprices continues arriving; the Central Bank is able to meet any demand forforeign currency if it is interested in it, a specialist of a large Moscowcommercial bank said in an interview with RBC commenting on the MICEXafternoon session.Today, a growth of ruble credit rates started on the interbank marketreaching about 7-10 percent. This is why it is not quite reasonable fordealers to buy. If credit rates go up by the end of the month and rublebalances of correspondent accounts of credit institutions at the CentralBank go down, like it was at the end of July, a correction of the dollarrate might start to the level of RUR31.54-31.55, as traders will startselling foreign currency they have, in order to support their liquidity.The dollar rate should not grow, because its supply is considerable now.This is why much will depend on the activities of the Central Bank on themarket and the level of credit rates on the interbank market the next fewdays..

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