Financial news

At Interbank dollar has once more left hryvnia behind having won another point

International foreign currency market. On Friday at FOREX market no strong economic indexes regarding EU and US economics have been expected. European session has been opened with euro, British pound sterling and Swiss franc increase against US dollar. This rise is likely to be the continuation of yesterday up tick connected with news release on European countries economics which turned to be much better than expected activities, and with unexpectedly low showing as for US economics.

The morning technical levels have been as follows:

At 11:00 KT data according to PMI Sentiment index in production and service industries in Eurozone were published. Index in service industry exceeded expected showing by 51,0 and constituted 52,3, while in production industry expectations coincided with published index — 52,3. These news testify positive state of European economics and all European currencies marked this situation by appropriate growth. Thus, euro reached its maximum level for the past two weeks and half having attained the level of 1,486. Swiss franc reached its maximum point from the beginning of February — 1,0832.

With American session opening US dollar tried to retake lost positions. And by 18:00 KT euro and pound sterling rates almost returned to the level of day opening.

At Ukrainian Interbank foreign currency market situation is going to be little by little restored after dollar quotations abrupt decrease at the middle of the week.

US dollar which lost on Wednesday in value in average 4 kopecks, today has outrun hryvnia with another point. Bids on Friday were opened at 5,015/5,030 point but the lower offer gave the bids upward movement and as a result the US currency quotations increased during the session up to the level 5,040/5,050. But by the closure of session quotations have somewhat decreased and constituted 5,033/5,048 за $1.

The majority of deals has been concluded today in the range of 5,03/5,04, in comparison with 5,017/5,022 at previous bids on Thursday.

Decrease at DEPO-market, that changed sweeping growth of interest rates on interbank credits at the second half of the week, was going on.

Overnight rates decreased today and fluctuated at the range 5,0/10,0%, at 8,0/25,0% a previous day. Average weighted rate on bargains by 17:00 КТ decreased almost two times by 7,5%, at 14,7% in accordance with results of Thursday. Volume of concluded bargains by this time constituted 2,43 b., at 2,97 b. in accordance with results of bids of the previous day.

Rates on credits for the term «from 2 to 7 days» also could not avoid decrease. Their fluctuations today was marked at the range 7,2/9,5%, with larger range at 12,0/25,4% on Thursday. Average weighted price on concluded bargains decreased — by 8,6% from 15,5% yesterday. Volume of concluded bargains increased by UAH 470 m, at 393 m. in accordance with results of Thursday.

Rates on credits for the term «from 22 to 31 day» constituted today on average 10%, at 11% a day before, when they fluctuated at the range 10/15%. Volume of bids increased by 242 m. from 72 m. a previous day.

It is not worth to expect considerable decrease of rates next week, as balances of commercial banks on correspondent accounts in NBU keep at minimal levels, and reporting date approaches.

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