Rus News Journal

The currency auctions in Moscow

At a stock exchange growth of volumes of operations

at the auctions of the Moscow interbank currency stock exchange a dollar exchange rate has proceeded Yesterday has been fixed at level 740 rbl./ $. Thus, the yesterday`s Moscow auctions became continuation of the tendency which have outlined in last Thursday of growth of a market rate. Thus, as well as at the previous trading session, growth of currency quotations occurred against appreciable increase of activity of participants of the auctions.

the Auctions at the Moscow interbank currency stock exchange on April, 8th, as well as the previous Moscow auctions, were characterised first of all by appreciable increase of level of initial demand. Demand for currency means, having increased in comparison with level of the previous auctions by $6,52 million, has made $86,43 million However, unlike last auctions where the demand increase was accompanied by simultaneous growth of level of the initial offer, activity of sellers of currency at the auctions has a little decreased on April, 8th: the currency offer, having decreased for $2,37 million, equaled $57,05 million As a result a difference between supply and demand, having increased more than by 40 %, was at 29,38 million level, having caused, thereby, increase of a course during the auctions on 40 points. As a result at the rate of 740 rbl./ $ it has been sold $80,25 million that on $5,98 million more than at last auctions.
estimating results of the yesterday`s Moscow auctions, experts are inclined to consider that appreciable growth of demand for currency has been in many respects caused by actions of exchange players. Involved on a stock exchange growing quotations of dollar, speculators now it is artificial lift a market rate, directing on the auctions the large sums of the rouble means which have been saved up in the end of March in rather low volumes of operations and concerning a stable market rate.
besides, increase of activity of participants of the currency market could affect and the filtered information on toughening of control preparing by the Central bank behind import by banks of cash currency from correspondent accounts of foreign banks. Being afraid already in the near future to lose possibility concerning free import of cash currency, banks aspire to buy as soon as possible currency at a stock exchange for the purpose of its subsequent cashing in abroad for replenishment of the cash foreign currency reserves.

Century G