FX market braces for normalization

FX market braces for normalization



3 лютого 2015 года
ICU

Yesterday, the NBU announced that it would adhere to IMF requirements and abstain from its previous tight regulation of the FX market. As a consequence of its prior interventions, several parallel grey markets developed and operated outside of the official market to the extent that when Bloomberg reported the official UAH rate at 16/USD, the more liquid unofficial rate was at 20-21/USD. Without central bank intervention to bolster the value, in anticipation that the NBU would refrain from such action in accordance with IMF demands, the hryvnia added 0.07% in nominal terms and slid 0.55% in trade-weighted terms yesterday.

Источник: ICU

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