UAH inches down amid NBU sell intervention



3 листопада 2015 года
ICU

The NBU held a second consecutive FX auction selling US dollars to market participants yesterday following last Friday's auction. The prior auction occurred over a month earlier when the NBU did the reverse and bought US dollars for FX reserves. It appears that the FX regime has reverted to a USD-peg more than a managed float, particularly as the NBU sold US$30m at 23.01/USD yesterday, slightly weaker than Friday's US$30.7m at 23.0027/USD. This was at a significantly higher daily volume than the NBU's FX purchasing over a month ago, indicating that pressure on the FX rate has gained momentum. By weakening the official rate in accordance with market sentiment, the NBU appears to be attempting to soften the impact.

Источник: ICU

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