Financial news

US dollar continues to be in demand at the Ukrainian interbank foreign exchange market

At the Ukrainian interbank foreign exchange market US dollar continues to be in demand among market participants that attests also dynamics of rates that remain invariable second session on the trot. If previously after the NBU interventions US dollar started to go down on the next day, then on Friday and today, USA currency showed only positive dynamics. Trading was opened today at the range of 4, 60/4, 66, and when active trading opened the trade range moved to 4, 62/4, 64 per $1. Further under the influence of moderate demand the US dollar quotations increased and reached 4,63/4,67, where remained unchangeable till the end of trading. On previous day the session was closed at the range 4, 63/4, 70 on Friday.

The majority of deals was concluded today by market participants at 4,625/4,635, with 4, 62/4, 64 per $1 the working day earlier.

At the DEPO-market rates on short term credits in local currency show growth, the fact that could be explained by transit report data approach, though on other credits types granting conditions some improvements can be observed.

Overnight credit rates are placed within 1,5/4,5%, with 2,0/5,0% a day earlier, that could be explained by the growth of temporarily available funds on correspondent accounts within the National Bank of Ukraine. Weighted average price by 17:00 КТ made 3, 0%, that corresponds to the closing level on Friday.  Volume of transactions by17:00 КТ amounted to 2, 55 bn, in comparison with 3, 26 bn according to previous day's session results.  

Credit rates for a period "from 2 to 7 days", on the contrary, have shown today an important growth in course of session.   At fluctuation of the price within 6, 0/14, 0% average weighted price for concluded transactions increased by 3% — up 8, 8% annuals in comparison with analogous indicators from Friday. Volume of granted credits insignificantly decreased and amounted to UAH167 m, being 191 m on Friday.

Rates on credits for a period "from 22 to 31 days» are fluctuating today within 13, 0/17, 0%, being 15, 0/18, 0% on previous working day.

Overview of FOREX market for Monday July 28, 2008

Week started with slack trading. Any macroeconomic national measures are not expected today for issue.

Analysts suppose that due to FRS policy on American economy raise by means of interest rate increase, US currency has good chances to continue its growth.

At European trade session Euro tried to regain its position prior to important macroeconomic data issue of the current week. However, once Americans entered on the market, US dollar began slowly grow.

Today it became known that prices for houses eased again in Great Britain. This indicator is falling the tenth month in succession by now. In annual calculation prices came down by 4, 4%.

Technical levels on main currency pairs as of 17:36 КТ:

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

[You can subscribe for Banks news]