The dollar is growing "wild pace"

The dollar to the ruble on Thursday continued to increase, briefly moving to a single trading session and the interbank market, a mark of 29 rubles, Reuters reports.

Deilers argue that at the level of 29 rubles, the American currency met the active resistance of the market. “People understand that next week they will still need to pay taxes. In addition, banks have opened too many long positions,” said Alexander Karpov, the dealer of Zenit Bank, explaining the reasons for the correction that began after the growth of the quotations outside the limits of 29 rubles.

According to the dealer of Raiffeisenbank Sergey Shchepilov, "the Central Bank wants to see the market higher, but at the level of 29 rubles there is very good support."

On Thursday morning, the interbank quotes of the dollar to the ruble at the auction on Tomorrow accounts at about 10.30 Moscow time grew to 29.03-29.05 rubles per dollar, thus reaching the level at which the American currency was last located in mid-January 2004.

On both uniform trading sessions (calculations and “today” and “tomorrow”), a number of transactions also passed at the rate above 29 rubles, but the weighted average courses at both ETS remained at a lower level.

According to market participants, the Bank of Russia did not make noticeable attempts to stop the growth of the dollar. At the same time, at the beginning of the bidding at the ETS, an application was issued, perhaps the Central Bank, for the sale of $ 100 million for 28.9350 rubles, but it was quickly removed. Traiders are almost sure that the application belonged to the Central Bank. In addition, the Central Bank can conduct interventions by trading with banks directly.

Market participants refrain from forecasting the situation at the next auction.

“Over the past week, the dollar grew just a wild pace ... We will not be surprised at anything,” Karpov said. Over the past ten days, the exchange rate of the American currency has already strengthened by 50 kopecks.

The growth of the dollar in the Russian market occurs in parallel with its strengthening in Europe, where the dollar to the euro has already reached a five -month maximum.

The weighted average of the dollar on the ETS by the “Tomorrow” calculations by 11.30 Moscow time grew to 28,9800 rubles per dollar from 28.9237 rubles at 11.30 Moscow time at the previous session. At the ETS calculations today, the weighted average dollar exchange rate grew to 28.9417 rubles per dollar from 28,9247 rubles at the previous session.

Interbank quotes of transactions with a period of calculations "Tomorrow" at 14.00 Moscow time amounted to 28.9650/28,9705 rubles. At the end of previous trading, the Tomorrow quotes were at 28.92 rubles.