UAH slides further

UAH slides further



14 липня 2015 года
ICU

Yesterday, the hryvnia declined 1.14% to close at 22.20/USD, on trading volume of US$170m. This corresponded to a 63% ratio of FX turnover to foreign trade in merchandise (exports plus imports), see Chart 12 on next page. In our opinion, such a low ratio means either FX turnover was either under-reported, foreign trade was over-reported, or both factors had a mixed impact. Foreign FX markets had a mixed reaction to the Eurozone deal reached with the Greek government. As the deal still appears to be controversial, the euro fell 1.43% yesterday. The Russian ruble was under pressure as the price of crude oil (Brent) was fell 1.38%. The hryvnia's trade weighted value fell 0.77% from Friday's close.

Источник: ICU

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