Armen Asaturyan, the dealer of International Industrial Bank, comments the situation in the currence market.
Infox.ru, 16.12.2008
Euro-to-ruble rates have increased by 0,5 rubles. Since November, 2009, Bank of Russia has expanded the scope of stock exchange fluctuations. Now the experts are waiting for enlarging these scopes five times more.
In December, 16, Bank of Russia fixed dollar rate at a level of 27,816 rubles, euro – 37, 4292 rubles. In comparison with rate, dated from 13th of December, dollar rate increased by 0, 83 kopecks, euro totaled 52,84 kopecks. Admissible ruble scope of stock exchange fluctuations has been increased by 30 kopecks.
Oil prices are also reflected on rubles rate. Russian export oil of Urals Company costs $44, 7 per barrel. In 2009 Russian budget is fixed according $70 per barrel. Dollar flow-in in Russia is abruptly decreased. To satisfy the demand for currency, central bank has to sell currency from international stocks. The purpose to extend currency corridor is to reduce the stocks.
Armen Asaturyan, the dealer of International Industrial Bank considers such a policy to be difficult. This system anticipates the rate of inflation in all countries, the currencies of which are presented in international stocks of central bank.
Mass Media About The Bank
