FX market consumes Naftogaz's US$1.6bn deal

FX market consumes Naftogaz's US$1.6bn deal



2 жовтня 2014 года
ICU

The NBU and state-run Naftogaz completed the US$1.6bn redemption yesterday. The day before, NBU authorities likely shifted the actual payment date one day later to prevent an impact on the level of official FX reserves reported at the end of September. Both the public and investment community are highly sensitive to negative news of deposit outflows and increased demand for FX as NBU authorities' economic policy decisions and FX statistics are highly scrutinized. Any divergences are exploited by the media and political opposition. However, even though Naftogaz announced that the bond was redeemed on schedule yesterday, the sovereign risk premium is unlikely to decline during the next three months.

Источник: ICU

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