Financial news

Trading was opened in rising tendency at Ukrainian interbank foreign exchange market

International foreign exchange market. Today, principal currency pairs fluctuated within narrow range. This is related to the absence of publications of strong macroeconomic indicators in European countries and the US. In whole, the US dollar insignificantly strengthened its position against European competitors. Analysts relate this growth to the US stock market upsurge which was followed by the US dollar rise having ignored negative data on the US economy.

Industrial production in Germany increased in February by 0,4% as was shown during European trading session. Analysts forecast indices decrease by 0,5%.

This week heads of central banks of G7 must meet in Washington in order to discuss world financial problems, namely, problems of the US dollar reduction in price and Euro rise. Expectation of the meeting can strengthen the dollar.

Current technical levels on principal currency pairs:

Trading was opened in rising tendency at Ukrainian interbank foreign exchange market. This occurred against the background of the US dollar exchange rate increase versus UAH at Friday session. The US dollar quotations amounted at the opening to 4,995/5,010, but very soon afterwards it became clear that exchange rate was appreciated, and the market was gradually balanced about the level of 5,000/5,005 per $1. Trading was closed at this mark in comparison of 5,000/5,008 level on Friday.

The majority of transactions were concluded today by market participants within the range of 5,000/5,003, with 4,99/5,00 per $1 on Friday.

At DEPO-market no significant modifications occurred during the bids, while interest rates fluctuation was registered within the same limits than on the previous business day.

Rates on credits "overnight" modify today within narrower range than a day earlier — 7,0/12,0, with 8,0/14,0% on Friday. Average weighted price on concluded transactions by 17:00 KT decreased a bit more — up to 9,4% from 9,7% a day earlier. The volume of concluded transactions by the same time amounted to UAH 3,03 b, with UAH 3,95 b according to previous day results.

Credits for a period "from 2 to 7 days" keep fluctuating within large range: between 10 and 18%, with 11/18,8% p.a. on Friday, at this average price did not change significantly and amounted to 13,4% against 13,8% on the previous day. The volumes of concluded deals increased considerably and amounted to 414 m, with 159 m according to daily results on Friday.

Rates on credits for a period "from 22 to 31 days" are also in a wide range —  7,0/17,0%, with insignificant fluctuation of about 12,9/14,0% a day earlier. Average price of concluded deals increased up to 13,6%, from 13,4% on Friday.

Comments by S.N.KRAMAROVA, Director of the Treasury of PRAVEX-BANK.

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