UAH tilts back to 20/USD on supportive backdrop

UAH tilts back to 20/USD on supportive backdrop



15 травня 2015 года
ICU

The hryvnia closed at 20.5/USD up 0.97% yesterday on US$265m in trading most likely under NBU guidance. At the annual meeting of the EBRD in Tbilisi, Georgia, officials learned that the EBRD downwardly revised its 2015 forecast to a 7.5% contraction of real GDP versus previous forecast of a 5% contraction reported in early January. This had little impact since the NBU lowered its forecast to 7.5% one month ago from 5.5%, in agreement with the IMF early this year. The prevailing consensus is now a 7.5% decline in real GDP as the World Bank lowered its forecast to that level a few weeks ago. However, the IMF is holding to its previous forecast of a 5.5% contraction. We see this as positive for the UAH. The US dollar index was largely flat, and the Russian ruble dropped on news that the central bank intervened. However, the ruble remains near 50/USD, a comfortable level both for Kremlin authorities and the Russian economy.

Источник: ICU

Другая макроэкономика от ICU


Компании

все компании