The dollar rose sharply against the background of increasing demand

2019-10-02 12:30:12
Machine translation
The dollar rose sharply against the background of increasing demand

the Dollar on the interbank market in two days rose by 30 kopecks to 24.6/of 24.63 UAH/$, and after that the nervous and the cash market. Citizens actively began to buy foreign currency, causing the dollar rose to 24,70 UAH/$.


the Recent strengthening of the hryvnia to a minimum of 3.5 years was a surprise for the market because it was not caused by the growth of the economy, and by raising funds from selling government bonds. If in 2017 hryvnia loans made up only 32 billion, in 2019 they amounted to 194 billion, of which 97 billion owned by foreign investors. Loans in dollars remained at the same level as last year.


in the Future, the Ministry of Finance plans to issue government bonds only in the national currency to reduce the devaluation of the national currency, which leads to an increase in the ratio of debt to GDP as it was in 2014.


At yesterday's auction the Finance Ministry sold 2-year bonds to the amount of UAH 77.2 million with a yield of 15.36% per annum. This was the first auction of government bonds, which successfully conducted the international platform via Bloomberg.


the Plan of public borrowing to 2019 provides for a reduction of foreign exchange earnings from non-residents, which will increase the speculative mood in the market.


the Market expects the exchange rate to the level of 25.5 and 26.5 UAH/$, which would satisfy the government and exporters, so such sentiments heat up rate on the interbank market.


Yesterday, the national Bank held a meeting with participation of the President and the Prime Minister of Ukraine, representatives of the NBU and the government on financial and economic development.


According to the Minister of economy, trade and agriculture, T. Milovanova, soon NBU and the Cabinet of Ministers will sign the Memorandum "coordination of policies".


Yesterday, the national Bank did not participate in the interbank trading, as the economy reserves and considered the growth rate of the consequence of the speculative transactions.


yesterday was sluggish, as customers, summed up September and decided on plans for the Oct. The volume of transactions in the range of 270-300 million $ gives speculators a chance to swing the course, especially given the interest of non-residents wishing to buy hryvnia government bonds, further appreciation of the currency. Therefore, the main task of the NBU is the restraint rate from sharp fluctuations.

Visitors’ comments (0):