Financial news

US dollar keeps increasing

International foreign exchange market. Today American dollar kept increasing. It showed positive dynamics against all European currency-competitors. Analysts connect this growth with comments relating possible crediting of American companies for recovery of US economy by Ben Bernanke Chairman of FRS.

Rate of prices increase on houses in Great Britain became slower by 3,7% in May (annual calculation) from 4,9% in April

In May wholesale supply in the USA, as it was expected by analysts, increased 0,8%. However, volume of future houses sales in the USA, in spite of analysts' expectations decreased in May 4,7%. Analysts expected 2,8% decrease.

Technical analysis of schedules with day interval shows that American dollar will keep increasing in medium-term perspective.

Technical levels on the main currency pairs at 17:26 КТ:

At Ukrainian interbank foreign exchange market there is equality between demand and supply on USD after yesterday's interventions of the NBU. However market quotations considerably differ today from the rate with which the NBU bought US dollars: its fluctuations were marked today within 4,58/4,65, with 4,72/$1, with which the NBU bought currency.

Soon after session opening US dollar price was within 4,58/4,61, under influence of high demand reached the level of 4,61/4,65. Majority of bargains was concluded today by market participants with the rate of 4,60/4,62, with 4,58/4,60 a day before.

At DEPO-market the NBU interventions on Monday caused balances increase of commercial banks at correspondent accounts with the NBU causing rates decrease on interbank credits.

Today "overnight" rates in UAH decreased again by the level 2,0/10,0%, from 4,0/10,0% a day before. Average weighted price on actually concluded bargains deceased by 5,3%, from 6,1% yesterday. Volume of bargains at 17:00 КТ slightly changed and made up UAH 2,38 bn, with 3,14 bn as of the end of Monday.

Rates on credits for the term "from 2 to 7 days" decreased today 1% — by the level 9,0/13,0% p.a. Average weighted price on actually performed bargains decreased by 10,8%, from 13,1% at bids yesterday. Volume of concluded operations increased by 203 m, from 76 m during previous bids.

Rates on credits for the term "from 22 to 31 days" are today within 12,0/20,0%, with 14,0/16,0% on a previous day.

Interbank rates on "overnight" credits in USD made up today 3,0/5,0%, in EUR — 4,5/6,00% p.a.

Comments by S.N. KRAMAROVA, Director of Treasury of PRAVEX-BANK.

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