Financial news

Rates on inter-bank credits keep holding maximum marks at DEPO-market

International foreign exchange market. It was not easy day for US dollar that during the whole day was growing against English pound but was decreasing against euro and Swiss franc. Asian session was quiet and American currency rate almost did not change against main world currencies. During European session USD started to decrease against EUR due to release of German business climate index from Ifo Institute. Index increased in May up to 103,5 points from 102,4 points in April. Analysts expected that index constituted 102,0 points. However such unexpected news pushed EUR to sharp increase.

In half of an hour Bank of England informed that discount rate will be at the same level of 5%. Such a decision was caused by desire to slow down inflation pressure.

During last week oil stock in the USA decreased 5,4 m of barrels by 320,4 m of barrels. Analysts forecasted the growth of oil stock on 0,6 m of barrel. Unfortunately this news did not cause serious support for American currency.

Technical levels on the main currency pairs at 17:52 КТ:

At Ukrainian inter-bank foreign exchange market US dollar keeps incurring a loss expecting for change of official rate of NBU, which regulator is planning to maximally approximate to market rate and to revise and to enlarge rate corridor within which USD rate will move at the nearest time. Since the beginning of the year when dollar demand traditionally increases, American currency strengthening is possible.

During today's session USD rate against UAH decreased to the level 4,54/4,55, in comparison with level of opening 4,57/4,63 and 4,62/4,67 at bids on Tuesday.

Majority of bargains was concluded today by market participants within 4,56/4,60, with 4,630/4,645 per $1 a day before.

There are no considerable changes at DEPO-market, rates on inter-bank credits with good stability keep holding maximum marks that were reached on previous month when they reached 40% p.a.

"Overnight" in UAH fluctuated today within 24,0/35,0% p.a., though by the end of the day the range enlarged by 20,0/38,0% p.a. Average weighted price on concluded bargains at 17:00 КТ gained weight in comparison with yesterday's day and constituted 28,1%, with 27,5% on Tuesday. Volume of bargains increased up to 1,94 b, from 1,64 b at the same time yesterday.

Rates for credits for the term "from 2 to 7 days" fluctuate today within 24,0/27,5% against 22,3/30,4% yesterday. Because of this fact, average weighted price on actually performed bargains decreased by 25,9% from 28,5% on Tuesday. Volumes of concluded bargains increased up to 372 m from 109 m on Tuesday.

Today rates on credits for the term "from 22 to 31 days" are at the level 22,5% p.a., in comparison with trade range in 20,7/22,0% (at bids yesterday).

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

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