Financial news

Rates increase on interbank credits is observed at DEPO-market

International foreign exchange market. Today there was a lot of news from Europe as well as from the USA.

During the first half of a day US dollar was decreasing against all European business rivals. However after lunch US dollar could return lost positions against euro but it kept decreasing against pound and franc.

In Great Britain trade balance deficiency decreased by the level 7,487 b of pounds in comparison with previous month — 7,924 b. Such data positively influenced British currency rate.

At 14:00 KT it was known that bank of England decreased discount rate on 25 base point — by the level 5%. In accompanying report there was noted that decrease is connected with necessity of risk minimization of inflation acceleration in future and for local experts support.

Not very pleasant news on foreign trade was received from the USA. Trade balance deficiency increased up to $62,32 b, from $58,96 b, analysts forecasted decrease by $57,06.

European Central Bank saved discount rate at the same level in 4%. Euro started decreasing against background of comments of Jean Claude Triche, Head of European Central Bank that said nothing new concerning further policy of European Central Bank at press-conference.

Technical levels on the main currency pairs at 17:45 КТ:

At DEPO-market, as it was forecasted growth of rates on interbank credits was observed: in some cases rates increase constituted 50-100% from levels of yesterday. State of affairs was aggravated by UAH balances reduction on correspondent accounts of commercial banks with NBU.

Thus, "overnight" rates against hryvnia by the end of the day increased up to 15/20%, at 10/15 in the morning and 9,0/12,0, while bids closure on Wednesday. Average weighted price of concluded bargains by 17:00 КТ increased by 15,8%, from 10,9% a day before, and by the end of the day it has all the chances to increase. Volume of concluded bargains by this time constituted 2,77 b., at UAH 3,84 b in accordance with results of previous day.

Rates increase did not pass credits for the term "from 2 to 7 days" as well, which cost fluctuates today within 15,0/18,7%, at 11,0/16,0% on previous day. Average price increased up to 15,4%, from 13,1% in accordance with results on Wednesday. Volumes of concluded bargains decreased again, having concluded 130.m, at 215 m on Wednesday.

Credit rates for the term "from 22 to 31 days" on actually concluded bargains are near the level 16,5% today, at 17% a day before.

"Overnight" dollar was quoted today by banks with 4,0/7,0%, euro  — 4,5/6,0%.

Comments of KRAMAROVA S.N., Head of Treasury.

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