Financial news

Interest to dollar purchase is increasing. Foreign exchange market. Wednesday 05.12.2007

At Ukrainian interbank foreign exchange market USD decrease, that took place on the previous session, turned out to be short-term. Rate decrease caused interest to purchase, which considerably prevailed today, and provoked quotations return to the range 5,06/5,07 per $1.

Bids were opened on the mark 5,055/5,060, but very soon US dollar started to grow, gradually approaching to the mark 5,065/5,075. Market participants' uncertainty in possibility to satisfy their need in currency via National Bank of Ukraine which restrains sharp rate fluctuations by currency interventions during more than two years provoked such quick growth of dollar rate except for its weak offer. Nevertheless, today situation was estimated by central regulator as that which requires interference and national Bank for the first time since April 2007 renewed US dollar sale with the rate 5,06/$1.

Majority of bargains was concluded today by banks at the range 5,060/5,065, at 5,055/5,058 per $1 on bids on Tuesday.

Today interventions of NBU, will be favored by rates decrease on bids of next day.

At DEPO-market situation was stable.  

Rates on "overnight" credit decreased a little bit by 2,0/4,0%, from 2,0/4,6% previous day. Main part of bargains was concluded, as previous day, at the range 2,5/3,5%. Average weighted "overnight" rate by 17:00 КТ constitutes 2,9/3,1%. Concluded bargains volume constituted UAH 1,97 b by this time, at 2,83 b. on Tuesday.

Rates on credits for the term «from 2 to 7 days» fluctuated at the range 3/6%, at 3,5/5,0% previous day. Despite of it, average price on concluded bargains decreased by 3,9% from 4,1% in accordance with results of Tuesday. Concluded bargains volume by 17:00 КТ constituted UAH 264 b., at 307 m. on Tuesday.

Trade range on credits for the term «from 22 to 31 days» constitutes 9,8/11,3 today, in comparison with 7,0/10,0% a previous day.

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

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