Hryvnia's TWI up on ruble's collapse

Hryvnia's TWI up on ruble's collapse



17 грудня 2014 года
ICU

The ruble's second consecutive daily decline exceeding 5% yesterday has again pushed the hryvnia's real trade-weighted up 1.36%, underscoring that Russia, as one of Ukraine's largest trade partners, has a significant impact on Ukraine's macroeconomic conditions. The ruble fell another 5.72% yesterday alone following Monday's 10% drop and the Russian central bank's late night decision to raise its key rate to 17% from 10%. As a consequence, market participants dumped the ruble, causing it to devalue rapidly in a freefall to an intraday low of 80/USD. Later in the day, the central bank heavily intervened to bolster the ruble spending about US$2bn.

Источник: ICU

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