NBU has tightened monetary policy to strengthen the hryvnia
At yesterday's interbank trading, the dollar fell for the session, and 28.79/28,82 to 28.67/28,70 UAH, while the Euro strengthened with 35,7485/35,7829 to 35,8002/35,8348 UAH.
After the speech of the ECB President the Euro significantly destabilised in the global currency markets, and speculators have fallen off the cross-rate Euro-dollar to 1,252 $/€. In Ukraine the rate for the session ranged from 17-18 cents.
the supply of dollars exceeded demand due to the large exporters and the significant number of small sellers that have positively impacted local currency.
Overall was 636 transactions (a good indicator of market activity) in the amount of 339,08 million $ (that is, 169,54 $ million "live" money, which is quite low as for days of the week with the most lively auction).
All this testifies to the strong dependence of the market from the sentiments of a small group of major players. In addition, everyone is waiting for the reaction of the market to increase the national Bank discount rate from 1.5% to 16%, in that time, as the fate of the future tranche and the overall cooperation with the IMF remains unknown.
the Statement of Vladimir. the Chairman of the NBU Smoliy that to slow the growth of inflation, the national Bank will be forced to tighten monetary policy, will affect the interbank foreign exchange market. Obviously, under such conditions, sellers will not be too hasty with the sales currency, which will affect the market balance.