On the background of shortage of supply and increased demand, the dollar crossed the 27.1 per UAH/$

the exchange rate of the dollar on the interbank market increases with the beginning of the week amid increased demand for foreign currency from non-residents, exempting income and banks having NBU refinancing closing foreign currency financing. On the hryvnia under pressure the slow pace of currency proceeds from the sale of agricultural products due to the delayed harvesting in the South.

Speculative growth of dollar's rate started on Friday, on Monday morning, the dollar on the interbank market started to trade at 7-8 kopecks more expensive than the closing level of the previous session, and by the end of trading rose to 27.1/27,12 UAH/$.

Last week, the national Bank purchased on the interbank market of excess currency volume of 92 million $, which proves the speculative factors of growth rate. The main reason for the currency appreciation has been the increase in the hryvnia, the banks that received refinancing from the NBU, as well as the uncertainty surrounding monetary and exchange rate policy in the absence of the new Chairman of the national Bank.

At Friday's tender, the national Bank has allocated 7 banks refinancing in the amount of UAH 5.1 billion for 5 years at 6% per annum. Under the terms of the tender, the NBU does not restrict banks in the use of funds received, so the exchange rate in the near future will depend on how financial institutions will deal with large volumes of hryvnia.

One part of means will be directed on maintenance of liquidity, the second is to replace "expensive" liabilities of cheaper, third – lending or purchase government bonds. But if banks start to directly purchase currency in the interbank market or to buy bonds of non-residents on the secondary market with the subsequent withdrawal of foreign currency abroad, the pressure on the hryvnia will increase dramatically, which will lead to a rapid appreciation of the dollar.

as a result of poor yields in the southern regions and the delay of harvest in the Central regions through heavy sediments June, the export of grains and oilseeds in the new season twice lower than last year's pace. On July 10, exported only 372 thousand MT, compared to 827 thousand tonnes on this date last year. The decrease in foreign exchange receipts from exporters not allow the hryvnia to strengthen, however, to boost export in the near future will support the hryvnia.