Financial news

Dollar reached maximal mark since the beginning of the month. Foreign exchange market review. 19 September, 2007

At Ukrainian inrterbank foreign exchange market after yesterday decrease, today there was marked USD rally which reached maximal mark since the beginning of the month, about 5,03/$1.

At the beginning of bids, being under influence of yesterday decrease, US dollar was traded at the range 5,005/5,0100 per $1. With the beginning of active bids, US dollar started to increase having approached 5,008/5,013, then 5,012/5,020, next mark was at the level 5,022/5,026 and at the session end, rate constituted 5,015/5,030 per $1. On Tuesday at the closure, rate constituted 5,003/5,008.

Majority of bargains was concluded today by market participants at the range 5,01/5,02, at 5,008/5,015 previous day.

Today at DEPOT-market rates lowering is marked on credits in national currency.

At invariance of trade range in 0,5/1,0%, average weighted rate «overnight» decreased on 0,1%, by 0,7% annuals. Volume of concluded bargains by 16:00 КТ constituted UAH 0,712 bln., at UAH 1,267 bln. on Tuesday.

Cost of «weekly» resources fluctuates today within 2,0/3,2%, at 1,5/4,0% a day before. Average price by 16:00 КТ increased by 2,4%, from 2,0% in accordance with the results of previous day, but there is potential of rate decrease by the end of bids. Bids volume decreased by 104,6 mln., from UAH 113,6 mln., fixed a day before.

Credits cost for the period «from 22 to 31 days» fluctuates today at the range 3,9/5,5%, at 5,0/8,8% a day before. Average price was changed by 5,0%, from 5,7% a day before.

Interbank credits cost in US dollars increased by 5,75/7,00%, from 5,5/6,5% a day before in spite of the decision of Committee of open markets of the USA to decrease rate on 0,5% by 4,75%, and discount rate by 5,25%, from 5,75% annuals. Some participants connect it with influence of discredit crisis on Ukrainian market, prevalent at international market.

Comments of KRAMAROVA S.N., Head of Treasury of PRAVEX-BANK