Financial news

Hryvnia is strengthening at interbank market

At Ukrainian interbank foreign exchange market American currency quotations "tumbled down" to lower border of rate range, within which NBU from August 2005 keeps hryvnia rate. During yesterday hryvnia showed indicators of strengthening, and today completely justified hopes.

Among obvious reasons of hryvnia strengthening are sales of currency to clients to get hryvnia necessary for payments into budget and economic activity performance, which quantity on correspondent accounts of commercial banks in NBU decreases every day.

By bids closure hryvnia rate was set on the mark 5,00/5,02, having tested during session minimums on 4,998/5,002. While session opening rate constituted 5,025/5,040.

Majority of bargains was concluded today at the range 5,005/5,020, at 5,030/5,035 during previous bids.

At DEPO-market rally of interest rates, caused by balances decrease at correspondent accounts by 11-months minimum, was increased.

Overnight rates increased today by the level 14,0/25,0%, from 7,0/15,0% a previous day. Average weighted rate on bargains by 17:00 КТ increased almost two times — by 20,5%, at 11,0% in accordance with results of Tuesday. Volume of concluded bargains by this time decreased 2 times — by UAH 1,8 b. from 4,2 in accordance with bids results of the previous day.

Rates on credits for the term «from 2 to 7 days» fluctuate at the range 9,0/20,0%, at 10,5/14,0% a day before, due to which average price on concluded prices increased by 17,0%, from 12,0% yesterday. Volume of concluded bargains increased a little bit and constituted UAH 160 m, at 130 m. in accordance with results of Tuesday.

Rates on credits for the term «from 22 to 31 day» constituted today 15/17%, at 10,0/15,0% during previous day.

Quotations increase is restrained by that fact that commercial banks can address as for refinancing NBU, which supports current liquidity in rate 14,5% (credit with pledge) and 15% (credit without pledge).

It is obviously that situation will remain unchangeable.

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

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