Source Pravda.Ru

Dollar likely to keep rising on May 30

Commercial bank experts said in an interview with RBC that today's dollar rise would continue on May 30. Experts point to the fact that today the weighted average dollar rate with tomorrow settlements amounted to RUR30.70 two hours before close, up by RUR0.03 against the official rate for May 30. Meanwhile, the high on dollar at the UTS reached RUR30.77.

Traders believe the significant increase in the dollar quotations against the official rate speak well for the fact that the ruble will ease back further. Analysts are confident that the Central Bank will almost abstain from interventions just as it did today. The present sag in the ruble is playing into the hands of the Central Bank that was "a bit ahead itself in strengthening the ruble in the past", traders believe.