Due to the strengthening of the hryvnia domestic procurement prices are falling
on Monday continued strengthening of the hryvnia on the interbank market. Exporters actively selling the currency to conduct budget payments, which leads to the abuse of offers over demand and pressure on the dollar.
After the open with 26,71/26,73 UAH/$ there has been a steady downward trend and by 11:00 the rate fell to 26.66/26,69.
Buyers were in no hurry to conclude the transaction, waiting for a better rate, however, the situation decided to use the national Bank. At noon he announced an auction to repurchase $ 50 million with a deadline to 12:45. The time of the announcement of the auction was very well chosen. On the one hand the market has formed a steady downward trend, on the other – are still interesting for the regulator proposal. With a total bid of banks at 56.3 million $, the NBU bought 49,98 $ million at cut-off price is not higher 26,69 UAH/$.
After the auction the rate was temporarily frozen at the level 26,67/was 26.70 UAH/$, but a significant volume of offerings continued to put pressure on the quotes. Thanks to speculators and the few customers after lunch, the dollar has stayed at the level of 26.66/26,69, however, by the end of trading fell to 26,62/of 26.65 UAH/$. Most of the agreements concluded in the range 26,6752-26,69 UAH/$.
the Strengthening of the national currency makes exporters to reduce hryvnia prices. Experts expect that within the next 2-3 months, the hryvnia strengthened to 26,50 UAH/$.