The interbank currency market reacted slightly to the holding of the parliamentary election: quotations on the interbank on Monday as of early trading stood at Hr 8.1720-8.1808/$1, which is higher than Friday closure quotations," dealers of commercial banks have told Interfax-Ukraine.
“The price of the overnight hryvnia resource before the parliamentary
election at 40-70% on one hand will keep the hryvnia exchange rate from
falling, although high demand for cash dollars on the shadow exchange
market on the other hand will press the hryvnia exchange rate downwards:
the exchange rate of speculators in Kyiv was Hr 8.27-8.30/$1,” a
dealer of a medium-sized commercial bank with Ukrainian capital said,
commenting on the factors that impact the hryvnia exchange rate.
He said that the state of the balance of the currency market was
situational, and the hryvnia exchange rate could strengthen thanks to
NBU’s interventions or active sales of the currency by the state-run
Oschadbank.
A dealer of a medium-sized commercial bank with foreign capital said
that the fact of the completion of the parliamentary election would not
directly influence the hryvnia exchange rate: quotations of the national
currency on Monday will depend on the volume of NBU’s interventions or
the sale of the currency by state banks.
As reported, the hryvnia exchange rate on the interbank currency
market on October 26, 2012 strengthened to Hr 8.1675/$1 from Hr
8.1825/$1 the previous working day. The NBU did not enter the market and
Oschadbank sold foreign currency.
The hryvnia exchange rate since early 2012 fell by 1.6%, from Hr 8.04/$1.
The NBU said that the annual fluctuation of the hryvnia exchange rate could be 2.5%.
