Active demand strengthens the dollar on the interbank market

Yesterday's interbank trading continued strengthening trend in the dollar. Morning quotes 26,11/26,14 UAH/S due to the excess of demand over the offer rate increased to 26.14/26,16 UAH/S.

held by the state Treasury After the VAT refund balances on correspondent accounts of banks grew to 53 to 55 billion UAH, which pushed speculators to the buildup of the market.

Psychologically, the torque pressure of the approaching maturity the domestic short-term bonds. At the end of April the Ministry of Finance will begin their maturity and the subsequent rate will depend on the actions of foreign investors. If they convert the received torque into the currency – exchange rate will grow rapidly because of rising demand, if you leave funds in hryvnia in securities – pressure is almost not felt.

On the background of gradual growth of the dollar exporters will sell the currency only in the compulsory sales and in the quantity necessary to perform budget calculations and current economic of payments, which will further reduce the amount of foreign currency supply and increase the pressure on the hryvnia.

In the case of growth rate above UAH 26.3/S, the national Bank will sell dollars in the system Matching.

In today's trading the dollar rose to 26,23/26,26 UAH/S, and by the end of the week the rate may reach UAH of 26.30/S.