The auction of government bonds failed to strengthen the hryvnia on the interbank market

on Tuesday, trading on the interbank market traditionally held on the basis of income of foreign currency from non-residents who buy government bonds, so the dollar usually declines. However, the second week in a row this rule is violated, and the exchange rate increases.

Yesterday morning 24,61/of 24.65 UAH/$ already in the beginning of the session, the dollar rose to 24.71/24,75 UAH$ and closed at the level of 24.74/24,77 UAH/$. The Bank almost did not participate in the auction and changed my tactics. If he had sold the currency in the beginning of the session than the extinguished race course and stopped "playing to improve", now he waits for the peak of the quotes when the demand for the currency decreases because of the buyers takes bids, and sellers actively sell the currency at a high rate, and only then declares sale at the increased rate. On the one hand, this is not stopping the speculators the rate increase, with another – uses its own reserves at a high rate. Yesterday the national Bank sold 15-20 million $ 24,76 at UAH/$.

Yesterday budget of the Ministry of Finance attracted 6,29 billion UAH, although the demand from customers exceeded 13 billion. The auction was posted the following securities:

the

1-year in the amount of 1.48 billion UAH under of 9.91%,

2-year-old in the amount 0,912 billion under 9,86%,

7-year-old in the amount of UAH 3,704 billion under of 9.79%.

• 3-month in the amount of 525 million UAH for 10,15% per annum,

Last 7-year t-bills sold 5 years ago with a rate of 15.5%.

a Positive signal for the market was the statement of the President of the European Commission Valdis Dombrovskis during a briefing with Prime Minister of Ukraine V. Goncharuk in Brussels on 28 January that the second tranche of the EU macro-financial assistance in the amount of 500 million euros, Ukraine will receive in the near future, right after all other conditions under the IMF program.

the Restoration of Ukraine's cooperation with the IMF will improve the financial situation in the country and stabilize the hryvnia. Perhaps the government and the NBU agreed that a healthy economy will stable exchange rate of hryvnia at the level of 25 UAH/$.