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2008

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On depositary market stated decrease of local currency interbank credit rates

Today on Ukrainian interbank foreign exchange market bid was conducted with growth  tendency due to yesterday's NBU interventions, which has communicated that on Thursday had purchased more than 200 millions of Euro at stated rate — 7, 3195/€1. Session started today at the level 4, 605/4, 66 per $1, but when active bidding started the rate changed into the range of 4, 61/4, 64, where remained for quite a long time. For 1-1,5 hours till the bid closing  the trading band moved to 4,63/4,70, being 4, 615/4, 65 on Thursday.

Major part of deals was closed today by market participant at range 4, 62/4, 64, being 4, 60/4, 61 per $1 during previous working-day.

Rate reduction of local currency inter bank crediting rate is registered today on depositary market (regardless of crediting terms) on Hryvnia balances increase background, also at the expense of the NBU interventions.

Rates "overnight" today are placed at large range — 2, 0/5, 0%, and at that by bidding closing rates for inter bank credits come down. Average weighted price by 17:00 КТ sank to 3, 0%, being 3, 4% on results of Thursday session. Volume of transactions by 17:00 КТ amounted to 2, 64 billions, in comparison with 2, 78 billions on previous day results.  Reduction of transactions volume attests the fact of banks' needs decrease in interbank credits.  

Crediting rates "from 2 till 7 days» continued to fall by reaching the level of 4, 5/7%, being 5, 0/8, 5% day before. Average weighted price on actual agreed deals decreased with 6, 0%, from 7, 6% day before. Volume of granted credits grew almost with 20 millions and reached 169 millions, being 149, 8 millions on Thursday.

Term crediting rates «from 22 till 31 days» grew and made today 11, 0/17, 0%, being 10, 1/15, 0% day before. Thereby the average price on actual transactions grew till15, 0%, being on Thursday's bidding 11, 5%.

Comments by S.N. Kramarova, PRAVEX-BANK Treasury Director 

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News thrue july
2008

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