Financial news

US dollar reinforcement at Ukrainian interbank foreign exchange market

International foreign exchange market. During European trade session US dollar against Euro increased almost on 50 points. Analysts refer this dynamics to morning sale of pound.

After Americans came to market, US dollar started to decrease again. Number of working places in the USA decreased on 23 000. Other indicators of labour market in the USA also show deterioration of situation. We will remind that on Friday the publication of the main indicator on American employment is expected.

As US Department of Commerce informed, manufactory orders in January 2008 decreased on 2,5%. Analysts expected such results and that is why market started to decrease before news release. Orders on goods of usage long term consumption decreased on 5,1%.

Now it is possible to make some conclusions that rates of growth of American economics keep descending.

Current technical levels on the main currency pairs:

At Ukrainian interbank foreign exchange market US dollar slightly "gained weight" in comparison with yesterday, when it approached mark 5,04/$1 during bids.

Today session was opened with quotations at the level 5,045/5,050, and for some time bids were held at this range. However interest to currency was shown a little bit later and it caused growth of rate to the level 5,048/5,052.

As previously before closure of session, movement of rates had differently directed character, and bids were closed on the mark 5,042/5,055, at 5,045/5,055 a day before.

Majority of bargains was concluded today by market participants within 5,047/5,052, at 5,044/5,048 per $1 a previous day.

At DEPO-market bids since the beginning of week are described by descending trend. The reasons for stable rates descending are previous one — increase of redundant liquidity.

"Overnight" rates by the end of today decreased by 3,0/7,0% from 4,0/9,0% a day before. Average weighted rate on bargains by 17:00 КТ decreased by 4,7% from 6,3% on Tuesday. Volume of concluded bargains constituted 2,62 bn, at 3,46 bn in accordance with bids of the previous day.

Credit rates for the term "from 2 to 7 days" keep descending. Today price change of this credits is marked at the range 6,0/9,0%, at 8,0/10,0% yesterday. Average weighted price on concluded bargains decreased by 7,8% from 9,6% in accordance with bids on Tuesday. Volume of concluded bargains increased after descending during three days, and constituted 251 m against 146 m at bids at previous day.

Credit rates for the term "from 22 to 31 days" fluctuate today at the range 7,0/14,0%, at 10,0/16,0% previous business day.

Interest rates on dollar "overnight" are without changes about 3,5/5,0%, on credits in Euro — 3,5/4,5% of annuals.

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

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