Will they stop the dollar on the interbank market at the level of UAH 26.3/$?

Prolonged decline in the exchange rate on the interbank market on Monday gave way to low growth. The main market participants are trying to reverse the trend. Exporters are holding sale of foreign currency, a proposal which is declined after the reduction of the threshold of compulsory sale up to 30%.

Buyers do not hasten to buy currency in the hope of further depreciation, especially today, when for the holiday on March 8 in the auction is two-fold volume of compulsory sale. In addition, the supply of currency will increase next auction of Treasury government bonds.

Based on market – specific subsidence rate of the currency in the future should not expect, in addition, may soon be adjusted.

Monday morning of 26.36/26,385 UAH/$ rate almost immediately sank to 26.25/26,29 UAH/$. After the release of major buyers by 11:00 rate rebounded to 26.30/of 26.33 UAH/$ and remained at this level until lunch.

As of 12:00 reference rate of the NBU amounted to UAH 26,3088/$.

In the second half of trading on the market was dominated by the precarious balance between supply and demand, and at the end of the session, speculators have raised the rate to 26.34/of 26.36 UAH/$.

the Growth of grain prices and sunflower oil since the end of December resulted in the increase of export supplies from Ukraine. According to the DFS, in January-February, Ukraine has increased exports by 8% to of 7.955 billion $ and imports by 5% to 8,746 billion $. The foreign trade deficit amounts to 790 million dollars.

a Decline in export prices for agricultural products that began in late February, against the background of strengthening of the hryvnia exchange rate will reduce export volumes from Ukraine, resulting in foreign exchange earnings in the short term shrink, which can change the trend of the currency market.