Financial news

Rates decrease on inter-bank credits is observed at DEPO-market

At the Ukrainian inter-bank foreign exchange market, after the National Bank's official exchange rate change to the level of 4,85/$1, the US currency strengthened within the range of 4,70/4,80 in which it is traded during all this day. Despite the renewal by the National Bank of exchange interventions at Thursday bids and statements made by its representatives as regards their readiness to buy out US dollars excess from commercial banks, the actual exchange rate at which transactions were concluded during the day was significantly lower than the level of 4,80/$1 at which the NBU buys out the US dollars. During the session operating exchange rate was established within the limit of 4,73/4,77. This was caused by market participants' uncertainty about interventions carrying out by central regulator against the background of internal disagreement between the Management Board and the Board of the National Bank concerning foundation of hryvnya strengthening.

Despite the aforesaid, the NBU began today to buy out the currency from the banks at declared exchange rate 4,80/$1 approximately from 15:00 KT, but very few could waited for that though their risk was justified as at the market the majority of transactions was concluded within the range of 4,73/4,77 in comparison with 4,72/4,78 at Thursday trade.

Further movement of the US dollar at inter-bank market and as a consequence at cash market will depend on consistency of policy and concrete actions of the NBU in this direction.

At DEPO-market  rates decrease on inter-bank credits is observed, which is caused by additional hryvnya liquidity inflow as a result of National Bank foreign exchange interventions.

"Overnight" in UAH became cheaper 10,0/16,0% in the evening, from 18,0/22,0% while opening and 16,0/35,0% on a previous day. Average weighted price on concluded bargains at 17:00 КТ decreased to 17,7%, from 23,6% on Thursday. Volume of bargains at the same time increased to UAH 2,42 b, from 1,88 b a day before. By the end of the day, Thursday volume of registered bargains constituted 3,12 b.

Rates on credits for the term "from 2 to 7 days" did not respond to the improvement of market, and that is why they are at the level 22,0/29,0%, with 21,0/26,0% a day before. That is, average weighted price on actually performed bargains increased up to 26,0%, с 24,1% on Thursday. Volumes of concluded bargains decreased about 3 times — by 37 m, from 98 m. a day before.

Rates on credits for the term "from 22 to 31 days" are at the level 17,8/21,0%, against 25,7/35,0% at bids on Thursday.

Rates on "overnight" credits in USD fluctuate within 3,0/7,0%, with 3,5/10,0% a day before. "Overnight" in EUR is quoted by banks with 3,5/5,5% p.a.

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

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