UAH holds at 21/USD, TWI drops on weak dollar

Макроэкономика 07.05.2015 Yesterday, the hryvnia held steady at 21/USD, as has been the routine over the previous few days. On higher trading volume of US$241m, the NBU's reported average rate rose 0.51% to 21.0255/USD, while Bloomberg recorded a 0.48% decrease in the rate to 21/USD. In trade-weighted terms, the hryvnia lost 0.88% when the dollar weakened after the US released lower-than-expected data in new jobs in the private sector in April (169,000 versus an expected 200,000) and a 1.9% decline in annual productivity in 1Q15. As a result, the euro surged 1.45%. At the same time, crude oil dropped 0.23% to US$66.22/bbl (Brent), causing the Russian ruble to decline 0.61% to close at 50.8176/USD.