The nationalization of PrivatBank raises the dollar

Monday will be a difficult day on the interbank market to customers and banks not so much taken on Sunday evening the decision on the nationalization of PrivatBank, as for the technical execution of this step.

Termination of service of corporate clients needed to capture the transitional balance will affect not only the receipt and withdrawal of client payments, but also to conduct purchase/sale of foreign currency on the interbank and foreign exchange fees of correspondent banks that work through the Private. In addition, on December 19 was to be carried out budget payments of exporters and importers, which indirectly will affect the behavior of the currency market.

it is Expected that the interbank market will be a fever, and the foreign exchange rates will have greater volatility. NBU promises to do everything possible to reduce fluctuations in the market, however, does not preclude speculative attacks on the hryvnia. In addition, the conflicting interests of the largest bidders, even in the absence of one of them on the market, together with the budgetary flows at the end of the year will create a risk of significant changes in course content and resources.

 Interbank is too sensitive and fully dependent on the actions of large players left in the market. In the case of situational excess of supply of foreign currency on demand of the NBU will hold an auction for the purchase of excess currency. In the case of speculative fluctuations above was 26.70-26,80 UAH/$, the regulator may sell some gold reserves.

In the cash market as of 10 a.m., the dollar quotation has not changed.

• Banks accept dollar 26,10-of 26.90 UAH and sell at 26,60-27,20 UAH.
• Exchange offices financial companies to buy the dollar on of 26.90-27,05 UAH and sold by led light bulbs 26,95-of 27.15 UAH.

the Mood of the currency market

the Survey showed that 48% of respondents are confident in the future growth of the official NBU rate above 26,51 UAH/$. At the same time, the number of those who expects the exchange rate of the NBU below 26,50 UAH/ USD declined from 55% on Friday to 52 percent on Monday.

Worsened forecasts regarding the interbank dollar exchange rate. 62% of respondents believe that the rate will jump above 26,51 UAH/$. The number of those expecting a rate below 26,50 UAH/ USD declined from 41% to 38%.