OPEC_s decision to increase oil output along with large purchases of rubles by Russia_s banks has led to a rapid increase in the demand for dollars and a consequent rise in the dollar /ruble rate.
Published:
1 April 2000 y., Saturday
However, confident that the rise will stablize very soon, the Russian central Bank does not intend to intervene.
On Wednesday afternoon the dollar rate started growing when the banks began to buy dollars on the inter-bank market. The rise was insignificant in so far as the quotes on the key market index remained unchanged at the close of session. (The average ruble rate at the close of the unified session of eight exchanges usually serves as the basis for the central bank's official next day ruble/dollar rate). However, on Thursday the unified trade session closed with an increased dollar rate, and Central Bank did not prevented the growth.
Central Bank_s officials predicted the market peak and therefore Viktor Gerachshenko (Chairman of the Central Bank) decided to declare in advance that for some time the exchange rate might be unstable. He thus informed the market players that the Bank of Russia is in control of the market situation, and consequently advised them not to get carried away by the trade.
Šaltinis:
Internet
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
A specific EU budget line for the new EU stabilisation mechanism should be created as soon as possible, to ensure its credibility, Council, Commission and Parliament negotiators agreed at a three-way meeting on Wednesday.
more »
New EU rule will help phone-users avoid astronomical bills for web-surfing and downloads abroad.
more »
The Communication approved today by the Commission builds on the principles presented on 12 May to reinforce the economic governance in the European Union.
more »
Eurostat report just published shows that the crisis has brought some lower taxes.
more »
New legislation is needed to ensure fair returns to farmers and transparent prices to consumers, by enforcing fair competition throughout the food supply chain, said Agriculture Committee MEPs on Monday.
more »
Fish imports play a crucial role in supplying the European market, yet fisheries and aquaculture are strategic sectors that do not lend themselves to a purely free-trade approach, believes the EP Fisheries Committee.
more »
I will support every proposal that strengthens cooperation among the European Union's Member States and serves Lithuania's interests," President of the Republic of Lithuania Dalia Grybauskaitė said at the meeting with EU Member States' ambassadors resident in Lithuania.
more »
The fourth World Lithuanian Economic Forum “High tech innovation & investment: local to global” will start in London on 22 June.
more »
Lithuania aims for the five Nordic countries and three Baltic States to become single community of values, which would be linked by a versatile quality of democracy, security and everyday life.
more »
MEPs decided on Wednesday to create a special committee to prepare for the EU's next long-term budgetary framework.
more »