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The dollar rose thanks to the National Bank. Photo: “Country”
The non-monetary dollar exchange rate began to gradually grow again: on September 23 it rose by 2 kopecks, and interbank trading ended at 28.215-28.23 UAH / $. The cash market was quiet and calm, and the average prices here did not change:
- UAH 28.30-28.40 / $ – on sale;
- 27.95-28.10 UAH / $ – for purchase.
Bankers speak of the negligible demand for foreign exchange at their branch boxes.
In the interbank market, similar sentiments were felt: a decrease in the volume of transactions: from $ 150 million yesterday to $ 128 million and the absence of large buyers of foreign exchange.
“Today there were no big sellers of dollars and no big buyers in the cashless market. Non-residents did not buy foreign exchange. There was also no speculative activity on the part of banks. That is, in general, the trade went smoothly. Exporters and importers they got together and balanced the market. The National Bank in the interbank market. also came out and even published its own quote. It was aimed at preventing the dollar from falling, “financial analyst Vasily Nevmerzhitsky commented on the situation to Strana.
Probably, the NBU today saw the prerequisites for a possible depreciation of the US currency. Therefore, we tried to ensure that this did not happen.
Namely: the National Bank unexpectedly submitted an application for the purchase of the dollar and set the price at 28.17 UAH / $. The treasurers’ choir assured “Strana” that at the end of the day the NBU did not complete any transactions. His move had a psychological task: to prevent the rate from falling below this mark, and it worked.
It would appear that throughout the summer, the regulator was constantly buying back currency in its reserves, and this was standard procedure. However, it should be remembered that in September the situation in the interbank market changed exactly the opposite: the National Bank sold $ 160 million since September 14 (the figure was specified today by the vice president of the NBU Dmitry Sologub) to support the hryvnia and prevent it from being greatly devalued. This is the central bank’s first statement on currency buying since then.
“Today was a quiet day and there were no major players in the purchase. In fact, the dollar rate could fall, but the National Bank does not need it. Its task is to increase the price of the dollar between 1 and 2 kopecks a day, because It is necessary to help exporters to increase the profits of the hryvnia and pay more taxes to the budget. The regulator establishes the unofficial exchange rate corridors of the market in which the interbank should be located. De jure, we have a floating exchange rate of the hryvnia and an unregulated, free market rate. And de facto, this is all a sham, and the National Bank manipulates the exchange rate as it needs to. The Interbank clearly reacts to all its tricks and steps “, – he said in a conversation with “Strana”, the vice president of the board of one of the banks.
Financiers expect this trend to continue: the opening of the interbank market on September 24 within UAH 28.20-28.24 / $, and new regulations from the NBU. If Citibank or other foreigners do not come out to buy the currency, the treasurers will allow trading tomorrow at 28.22-28.25 UAH / $.
The coronavirus is killing the euro
On the world market, the euro continues to slide. On September 23, it went from $ 1.1716 / € to $ 1.1678 / €, and during the day it moved in the range of $ 1.1665-1.1719 / €.
Investors drew attention to the fact that the composite index of business activity in industry and services (PMI) in the eurozone, the United Kingdom and Germany turned out to be worse than expected. But they were even more concerned about the negative statistics about the increasing incidence of the coronavirus in the EU.
In such a situation, traders prefer to sell the euro and buy the dollar.
“The market is once again dominated by fears of a second wave of infections, mainly in Europe, which means a new stage in the demand for the dollar,” Commerzbank analysts confirmed the trend to Reuters.
In Ukraine, the euro cash exchange rate fell by an average of 20 kopecks:
- on sale – up to 33.15-33.30 UAH / €;
- on purchase – up to 32.60-32.80 UAH / €.
Let us remind you that yesterday the dollar rate fell a bit, but they still expect UAH 28.50 / $ due to a poor forecast of the budget deficit.
The day before, the dollar was reported to have risen in price again, although the NBU sold part of the foreign exchange reserve to foreigners.
