Financial news

Foreign exchange market review for 27.02.2008

At Ukrainian interbank foreign exchange market bids started with ordinary rally of American currency, as previous session was closed having tendency to further growth. While opening session today quotations of US dollar constituted 5,055/5,065, and with the beginning of active bids range was narrowed by 5,058/5,063. But soon quotations of US dollar "were carried" down, however descending movement was interrupted at the level 5,040/5,045 per $1. Such considerable rate decrease could be caused by large sale on behalf of significant player that even more saturated market with currency which was sold today to receive hryvnia, which rates on interbank credits exceeded the limits again.

By the end of a session trade range was enlarged and market was closed at the level 5,040/5,055 per $1.

Majority of bargains was concluded today at the range 5,055/5,060, at 5,048/5,053 at bids on Tuesday.

At DEPO-market situation today is of periodic character. Morning rallies of interest rates at the second half of a day were marked by more sweeping decrease. The reason was that fact that balances on commercial banks accounts with NBU increased by 15,85 bn from 13,505 bn a day before.

"Overnight" rates today started from 14/20%, and in 1-1,5 hours increased by the level 18,0/25,0%. However, starting from the second half of the day, rates slightly started decreasing, having reached 2,0/6,0%. Average weighted rate on bargains by 17:00 КТ increased by 16,2%, from 14,3% a day before, however there exist antecedents for its decrease by the end of a day. Volume of concluded bargains by the same time constituted 2,25 bn, at 3,52 bn in accordance with results of the previous day.

Credits rates for the term "from 2 to 7 days" increased today by the level 15,0/19,0%, at 13,7/16,5% on Tuesday. Average weighted price on concluded bargains increased by 16,8%, from 15,2% a day before. Volume of concluded bargains was slightly changed and constituted UAH 212 m, at 223 m by the end of the previous day.

Credit rates for the term "from 22 to 31 day" constituted today 15,0/17,3% in comparison with 11,0/15,5% previous business day. Bids volume constituted about UAH 70 m, at 97,5 m, that were fixed yesterday.

Comments of KRAMAROVA S.N., Head of Treasury of Pravex-bank 

[You can subscribe for Banks news.]