Financial news

Rates growth is observed on all kinds of credits at DEPO-market

International foreign exchange market. Today market expected most of all the issue of GDP indexes of the USA for the second quarter of the current year. From the morning USD started decreasing. Some macroeconomic data on the economics condition of European states were the reason for it as well.

In Germany number of unemployed people in July was shortened on 20 thousand people. Data coincided with analysts' forecast. In European Union level of unemployment in June, 2008 made up 7,3%. Euro and Swiss franc started to grow rapidly.

GDP of the USA increased 1% — to 1,9% for the second quarter. Analysts expected more considerable growth of this index. After data issue US dollar "fell" sharply, but returned previous positions in 2 hours.

Technical levels on the main pairs at 17:59 КТ:

At Ukrainian interbank foreign exchange market US dollar slightly decreased in comparison with yesterday's level, but did not cross the lower limit of trade range fixed on Wednesday.

Bids were opened today about 4,66/4,68, and UAH was slightly strengthened reaching 4,645/4,66 per $1. Bids closing within larger range — 4,63/4,67, with 4,655/4,69 on Wednesday. Today majority of bargains was concluded by market participants at the same range that a day before — 4,65/4,66 per $1. Today the NBU did not participate at bids again.

At DEPO-market limited offer of resources that is usually observed during the last business day of the month caused rates growth on all types of credits.

"Overnight" rates today increased more than twice and during a day are within 3,0/8,0%, with 1,0/4,0% on Wednesday. Average weighted price at 17:00 КТ increased up 6,3%, from 3,0% yesterday. Volume of bargains at 17:00 КТ significantly decreased and made up UAH 1,98 bn, with 3,8 bn in accordance with results of Wednesday.

Rates on credits for the term "from 2 to 7 days" enlarged range of fluctuations up to 7,0/13,5%, with 7,0/12,0% a day before. Average weighted price on actually concluded bargains increased up 9,9%, from 8,2% on Wednesday. Volumes of credits granted due to their becoming more expensive decreased by 134 m., from 200 m yesterday.

Rates on credits for the term "from 22 to 31 days" fluctuate today within 13,0/15,0%, with 10,0/15,0% on a previous business day.

Rates on "night" US dollars are within 4,0/6,5%, with 3,0/5,0% yesterday, on EUR — about 4,5/7,5%, with 4,0/6,0% on a previous day.

Tomorrow rates will return to the previous meanings that would be caused by growth of balances more than UAH 20 bn, as well as future days-off.

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

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