Financial news

Stabilization of situation is observed at DEPO-market after interest rates “burst”. Foreign exchange market review. 23 November, 2007

At Ukrainian interbank foreign exchange market bids renewal after day-off on Thursday in the USA due to celebration of Thankful day turned out to be negative for hryvnia which lost against US dollar about 3-4 cop.

Accumulated demand during days-off turned out to be much «stronger» than offer today, as a result US dollar's quotations increased by the end of session by 5,047/5,055 per $1, at 5,015/5,030 in the morning 5,008/5,025 at bids on Wednesday.

Majority of bargains was concluded today by banks at the range 5,042/5,047, at 5,015/5,018 per $1 on bids on Wednesday. National Bank does not participate in bids today.

At DEPO-market there is observed stabilization of situation after interest rates «burst» that took place at the beginning of the current week.

Rates on «overnight» credits during a day fluctuated today at the range 1,0/4,0%, at 1,0/8,0% a day before. The main part of bargains was concluded today within 2,5/3,5%, aginst 3/5% a previous day. Average «overnight» rate by 17:00 КТ constituted 3,0%, at 4,2% in accordance with the bids on Thursday. Volume of concluded bargains constituted about UAH 1,5 b., at 2,3 b. in accordance with results a previous day.

Credit price for the term «from 2 to 7 days» decreased by 3,0/5,5%, from 4,0/9,5% a previous day. Besides average price on concluded bargains decreased by 4,0%,from 6,2% in accordance with the bids a day before. In spite of rates decrease, concluded bargains volume also shows decrease, today it constitutes 281 m., at 370 m. on Thursday.

There turned out to be less liable to decrease rates on credits for the term «from 22 to 31 days», which fluctuated at the range 8,3/9,5%, at 7,2/13,8% during previous session.

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

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