Financial news

The US dollar strengthened its position at the Ukrainian inter-bank foreign exchange market

At the Ukrainian inter-bank foreign exchange market, the US dollar exchange rate somewhat strengthened its position today at bids opening. The sellers began to sell the US currency at the price of UAH 4,96. This rise of the US dollar rate relates to yesterday's buying up of $200,000 million by the National Bank of Ukraine and thus investing of UAH 1 billion in the market.

But the purchasers stubbornly refused to buy the US dollar at so high a price, as a result purchase rate rarely overcame the mark of 4,93. The majority of deals were concluded today by market participants as yesterday within the range of 4,89/4,93. The trade was closed at 4,96, with 4,95 on Thursday.

Credit rates increased once more at DEPO-market on the last day of week. In the morning, the banks attracted resources at the rate of 28-32%. Today the news of balances increase at correspondent accounts by UAH 34 million — up to the level of 13,625 billion practically did not impact the course of bids. The market participants expected balances increase but the present insignificant increase was wholly unexpected. For a while, rates somewhat decreased and then returned to their previously achieved levels. Toward the evening, rates rose a little — up to the level of 29-34%. Weighted average price of concluded transactions by 17:00 KT amounted to 31,9% in comparison with 28,2% a day earlier. Concluded transactions volume decreased to UAH 1,80 billion today as of 17:00 KT in comparison with UAH 2,05 billion as of the same time on the previous day.

Rates on credits for a period "from 2 to 7 days" also rose today — up to 28,2% from 24,3% according to bids results on Thursday. The volumes of transactions being concluded decreased significantly and amounted to UAH 72 million.

Rates on credits for a period "from 22 to 31 days" on actually concluded transactions are today within the limits of 20% with 18,9% a day earlier.

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

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