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2008

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Rates on interbank credits keep growing at DEPO-market

International foreign exchange market. Today pair euro/dollar reached its new historical maximum level in 1,6000. Negative data on world economics state were published during a day.

In the morning message that Nobou Tanaka Chief Executive Officer of International Energy Agency concerned about possible world recession due to very high oil prices was published. Today oil prices reached USD $118,00 per barrel. Against background of oil prices increase, US dollar became cheaper against pound and franc. Euro was supported by comments of European Central Bank representatives about their intention to struggle with inflation in eurozone.

Composite index of industrial activity made by Richmond Federal Reserve Bank showed activity decrease from +6 points to 0 points. Such data could not help influencing US dollar rate against European and world currencies.

Technical levels on the main currency pairs at 17:42 КТ:

 EUR/USD
GBP/USD
USD/CHF
Opposition 3
1,618 7
2,011 6
1,019 8
Opposition 2
1,608 4
2,001 1
1,011 4
Opposition 1
1,602 3
1,996 1
1,006 5
Support 11,595 8
1,990 0
1,000 2
Support 21,591 3
1,984 3
0,994 5
Support 3
1,580 6
1,974 0
0,985 7

At DEPO-market rates on interbank credits keep increasing due to UAH liquidity deficiency aggravating and distrust crisis starting among banks.

"Overnight" in national currency today is quoted by banks within 27,0/40,0%, at 27,0/37,0% p.a. on Monday, and average weighted price on concluded bargains at 17:00 КТ already constitutes 34,9%, at 32,4% in accordance with bids results on Monday. However by the end of the day rates slightly decreased having constituted 27,0/32,0%. Bids volume by this time constituted UAH 1,98 b, at 2,79 b on a previous day.

Rates on credits for the term "from 2 to 7 days" are higher today than 30% p.a., changing within 31,0/38,0%, in comparison with 30,0/34,0% on a previous day. In spite of this fact, bids volume increased by 145 m, from 30 m a day before, average price slightly changed, having constituted 33,7% at 33,3% on Monday.

Credit rates for the term "from 22 to 31 day" on actually concluded bargains are today within 29,0/48,0%, at 10,0/22,7% a day before.

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

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News thrue april
2008

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