Speculators rocking the exchange rate on the interbank market

2019-08-29 12:27:06
Machine translation
Speculators rocking the exchange rate on the interbank market

the Traditional increase in demand for foreign currency in Ukraine in early autumn increases speculative pressure on the currency and contributes to the growth of the dollar.


understand that the strengthening of the hryvnia exchange rate due to currency proceeds from the sale of government bonds, will be short, so waiting for the currency rate will begin to rise. In 2017 the dollar on 29 August was 25.5 UAH/$ 11 November, it exceeded 26 UAH/$, and on December 1 crossed the level of 27 UAH/$. In 2018, the situation was somewhat different, the exchange rate of 26.5 UAH/$ on July 20, rose to 3 Sep to 28, 4 UAH/$, and until 1 December was in excess of 28 UAH/$.


In NBU reminded that the exchange rate generates a market and the national Bank maintains a fixed exchange rate policy, therefore, during the sharp appreciation of the hryvnia in July is not fully redeemed, the excess foreign currency on the interbank market.


Monday on the interbank market intensified speculators, but while it did not significantly affect the course in the last three days depends mostly from the actions of the major players. Non-residents are very prudent, which is unusual for the days when calculations are carried out on government bonds.


at the end of the month clients are closed the current account, and received by the exporters on the eve of the VAT refund has reduced their desire to sell the currency. The sellers are not willing to lower the rate, so buyers were forced to agree to their terms. Therefore, in recent days, the speculators, with the support of exporters, strengthened the dollar from 25.09/25,15 to 25.20/to 25.22 UAH/$, and the NBU at the auction did not go.


the Ministry of Finance recently complained of the national Bank, that a strengthening of the currency hurts the budget. According to the chamber, due to the strengthening of the hryvnia against the dollar by 9%, the state budget has a shortfall of 9.2 billion hryvnia. Although the strengthening of the hryvnia is not a consequence of the growth of Ukraine's economy and investment attractiveness of the currency. Therefore, when working on the budget in 2020, you must carefully predict the rate of hryvnia.

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