At the end of the month the dollar on the interbank market may become cheaper
the approach of the end of the month will be the main factor that will affect trading on Monday. Most of the customers trying to close their foreign exchange transactions in a day or two before the end of the reporting period. Today, therefore, the likely increased volume of transactions and the continued course corrections.
Since the interbank market is sensitive to the actions of major market players whose interests can be opposed today will increase the volatility of the market. The volume of transactions may amount to 270-300 million dollars.
The opposing interests of exporters and importers will cause major fluctuations in the period of greatest activity of the auction – from 11 to 12 hours. Speculators will not be able to significantly undermine the national currency, although they will try to do it. High balances on correspondent accounts (UAH 46.3 billion more on Monday morning) give the market players sufficient hryvnia resource for the job.
the dollar will fall as major exporters of the metal in the coming days to actively sell the currency to close hryvnia obligations for January. On the part of the traders demand for foreign currency will not change significantly, allowing the hryvnia strengthen, and the NBU to replenish international reserves. However, if the market will turn and the dollar will start to grow – the national Bank will not sell the currency, and offered to the market to find their own balance.
the Cash market continues to slow down quotes, although keeps the price of the dollar at a level of about 28 UAH. As of 10:00 banks took the dollar 27,20-to 27.75 UAH and sold at 27,78-of 28.00 and the exchange offices buy currency at 27,60-27,70 UAH and sold at 27,80-27,90 UAH.
the Number of supporters of strengthening of the national currency is growing. The majority of respondents believe that the official hryvnia exchange rate to gradually strengthen. Almost 47% of respondents expect falling of the rate of NBU on the dollar below 27,50 UAH. However, 53% of respondents believe that the rate will be higher of 27.51 UAH.