Source Pravda.Ru

Central Bank Restrains Rise In Dollar Rate On Russian Currency Market

The Russian Central Bank continued hampering a rise in the dollar exchange rate on the interbank market today. As a result, the dollar rate did not exceed the level of 29.95 rubles just like over the past several days. Dollars cost 29.93 rubles at the opening today, which corresponds to the official dollar rate set by the Central Bank for November 28. Meanwhile, the situation with ruble liquidity remains favorable on the market. One-day ruble credit rates were only 1 per cent at the end of the previous day. They went up to 5 to 7 per cent for large banks and 8 or 10 per cent for medium-sized and small banks but experts forecast these rates will drop in the near future. A banking expert noted in an interview with RBC that the average-weighted dollar exchange rate will most likely remain unchanged today.

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