Hryvnia up, global FX markets supportive

Hryvnia up, global FX markets supportive



25 листопада 2014 года
ICU

Although the domestic FX market was mostly calm, the financial media absorbed the news that the NBU put the midsized bank VAB into receivership. The local financial market's calm reaction to this news appears to have happened because it was expected. The NBU held an additional auction to determine a going exchange rate at 15.05 (up from 15.09 on Friday), while the weighted average rate was 15.06 (up 0.23%). Globally, the Chinese central bank inspired a rally that weakened the US dollar and lifted other currencies yesterday. In particular, the ruble rose a phenomenal 2.18% on the back of a domestic liquidity squeeze and tax payments, while the euro rose 0.41%, supported by an upward move of the benchmark IFO index and by anti-QE statements by the central bank heads in Germany and Austria. Overall, the hryvnia's real trade-weighted index declined 0.11%, a move that supports the Ukrainian currency's market (nominal) value.

Источник: ICU

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