Financial news

Situation stabilization is being observed at Ukrainian inter-bank foreign exchange market

Foreign exchange market review. The US dollar kept increasing today against European currency. But the pound sterling rose by 100 points after the publication of information on Great Britain GDP for the first quarter of the current year. The Swiss franc dropped before the noon against the US currency but in the afternoon began to restore slowly lost positions.

It is also to be noticed that today one of the members of ECB Managing Board declared that the world crisis is not over yet, and more time will be required to achieve perfect balance in world economic system.

Provisional data on Great Britain GDP showed growth by 0,4% in comparison with previous quarter and growth by 2,5% in comparison with the analogical period last year.

The US dollar index shows the highest growth dynamics for the last 2,5 years.

Technical levels on main currency pairs as of 17:52 КТ:

At the Ukrainian foreign market, situation is being stabilized after the US dollar dropped on the previous day against the hryvnia which was accompanied by the statements by the NBU representatives about possible modification of dollar official exchange rate following market tendencies.

In the morning, the market "brought away" after yesterday session and the US dollar exchange rate was within the limits of 4,75/4,80 UAH per $1, but soon afterwards it became evident that this level is too low and does not reflect real situation at the market. In the sequel, the dollar showed positive dynamics and rose in the course of the day up to the level of 4,84/4,90 per $1. Towards the closure of the session exchange rate amounted 4,84/4,88, with 4,80/4,85 per $1 on Thursday.

The majority of transactions were concluded today by market participants within the range of 4,79/4,82, in comparison with 4,83/4,85 per $1 at bids on previous working day.

Next week the US dollar exchange rate can be subject to significant changes due to the fact that in the course of numerous holidays the volumes of performed transactions can modify significantly in comparison with normal working mode as well as due to the end of reporting month.

At DEPO-market UAH resources keep becoming cheaper against background of increasing balances at correspondent accounts of commercial banks with NBU, additional pressure on rates are caused by future long holidays as banks' longing "to make working" all temporarily free funds gives its results.

"Overnight" in national currency during a day fluctuated within 12,0/20,0%, however in the morning part of bargains was concluded within 20,0/25,0% p.a. Average weighted price on concluded bargains at 17:00 КТ decreased by 16,7%, from 19,4% on a previous day. Volume of bargains by this time constituted UAH 2,3 b, at 3,26 b. on a previous day.

Credit rates for the term "from 2 to 7 days" decrease as well, but decreasing movement is restrained by the fact that crediting term covers transferring date. Cost fluctuation of these credits is marked within 19,0/27,0%, at 18,8/31,5% a day before. By the end of the day average weighted price on concluded bargains decreased by 20,9%, from 23,3% on Thursday. And bids volume slightly increased and constituted 73 m, at 50 m yesterday.

Credit rates for the term "from 22 to 31 days" on actually concluded bargains are today within 20,0/26,0%, at 24,8/30,3% on previous day.  

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

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