The dollar exchange rate has dropped below R28 in Moscow today, the lowest level in the past four years. Moreover, the dollar was supported in trading by the Central Bank. Had it not been for the Central Bank, the US currency would have plunged even lower.
The reason for this situation is obvious - as a result of the budget deficit in the USA the dollar exchange rate against the euro and other leading world currencies continues to fall. In addition, the Russian market, for example, has a constant influx of the US currency since we are paid for oil in dollars and banks have to sell these dollars.
According to analysts, the Central Bank might continue to restrain the dollar's catastrophic fall; however, if the exchange rate on the European market reaches 1.34 dollar for one euro, it is unlikely that the exchange rate in Russia will remain the same.
It is not surprising then that people in Russia are not in a hurry to buy the American currency - on the contrary, they are trying to get rid of it. Last week alone dollar sales almost doubled in volume.
According to expert forecasts, by the New Year the dollar exchange rate at exchange offices in Russia may go down to R27. It is not ruled out that exchange offices might experience a shortage of roubles.

Source: Radio Russia, Moscow
BBC Monitoring