The national Bank is trying to stop the speculative rise of the dollar on the interbank market

Panic, which from the beginning of the week collapse of the global financial and commodity markets to record low levels already went to Ukraine. Since the domestic financial market is virtually nonexistent trade stocks, for bonds and the hryvnia, which for 2 days has depreciated against the dollar by 3% to 25.72/25,75 UAH/$.

Global markets remain under pressure panAcademy which reinforce statements by politicians and declared by many countries quarantine regulations. China's experience in the containment and stop the spread of the disease has shown the effectiveness of strict quarantine measures, so countries like the US, Israel and others limit the entry of people from countries which have identified cases.

Declared in Ukraine quarantine has increased the concern of citizens, which began intoupouusi products and currency, ineffect what the cash dollar has rapidly risen to 25.6-26 UAH/$. But during the lockdown, citizens rarely travel abroad, so the demand for the currency decreases, which may soon reduce the rate.

Panic took advantage of the speculators who started to warm up quotes.

by Evening, the selling rate of cash dollar in exchange offices reached 27 UAH/$, while I bought it for 25,90-26,40 UAH/$, which shows a clear "play to improve".

On the interbank market in recent days has sharply increased the demand for currency, while sellers are almost absent. National Bank yesterday the morning began to sell the currency at 25,55 UAH/$ and everyu following the intervention increased the rate by 5 cents, ending the session at 25,80 sale of UAH/$and UAH. Two days to stabilize the exchange rate, the NBU sold least 400-450 million $.

the Daily volume of interbank trading remained at a low level 270-300 million $. This suggests that the national Bank is almost the only seller of the currency, while exporters are holding back sales in expectation of higher rate. But the simultaneous selling of currencies at the maximum rate can dramatically expand the market.

the national Bank to support the hryvnia their intervention, raise interest rates, a return to mandatory sale of foreign currency by exporters, a reduction in the term of return of foreign currency proceeds, and other instruments. It will attempt to stabilize the hryvnia exchange rate to reduce inflation and to stop the speculators who earn on the race course.