After the harsh statements of the President of Russia Vladimir Putin about the events in the Crimea and no less harsh response from the Ukrainian side declared a high alert army on the line of contact and the border with Crimea, Ukrainian currency for the first time in many months, fell sharply.
Review. Exporters already in the morning began to hold the currency, and ultimately the trading volume amounted to only 60% from the average for the month. In General alarm bells for the hryvnia has been a sharp decline in purchases of the dollar by the NBU. If in June he bought 430 million dollars in July, only $ 250 million (in the spring another 1 billion dollars) . In August, NBU decade bought only 16.6 million dollars (one auction 9 August).
Why did he spring down the course and purchased currency is clear. Need to stock exchange for purchases of gas, which fall in winter cannot be avoided, and the IMF loan hung in the air and is very similar to that in September with them can cause problems. And now it no longer works, the market pressure on the hryvnia, and the NBU reserves to touch is not going to.
In General it seems that the summer lull in the foreign exchange market has ended and now the heated internal and external problems of the country, the hryvnia will crawl down. How quickly, will depend not so much on its stagnating economy, but on the circumstances.
Author: yurasumy
