Who will raise the hryvnia!? - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine
Knowledgeable official NBU in conversation with said that the Board of the national Bank expects to keep the rate at the interbank...Stelmach will raise the hryvniaInterbank rate up to the end of the year may fluctuate in the range of 6-6,5 UAH/$1, said a source in the national Bank. According to the estimates of the controller, such a course would reduce the inflow of imports by 30-40%, and will also boost exports. Meanwhile, the NBU plans to force banks to reduce the cost of cash dollar.Knowledgeable official NBU in conversation with said that the Board of the national Bank expects to keep the rate in the interbank market within 6,5 UAH/$1. According to the Central Bank, the mean annual rate of hryvnia today is 4,93 UAH/$1, with the average calculated rate in the budget of companies at 5.1 UAH/$1. To achieve an average annual rate of 5.1 UAH/$1 the interbank hryvnia exchange rate should be about 6,0-6,5 UAH/$1 to the end of the year. "I think in the same range will fluctuate and the exchange rate of the NBU interventions," says the official. According to him, the devaluation of the hryvnia, the NBU plans to reduce imports by 30-40% and use it as leverage to stimulate exports.Dealers Central Bank banks announced yesterday that they intend without limitation to sell and buy foreign currency at the exchange rate of 5,95-6,05 UAH/$1. So, on Thursday at the interbank market bidding on U.S. dollar opened quotations of 6.1000/6,5500 UAH/$1, 12.00 spread narrowed to 6,1500/6,3000 UAH/$1. To the closing prices were established on the values 6,1500/6,2500 UAH/$1. At 15.00 the NBU announced the sale and purchase of dollars at the promised rates.Bankers believe that in this way the NBU has established a new corridor exchange rate fluctuations. According to the Chairman of the Board of Bank "Khreschatyk" Dmitry Grijota, in the near future the regulator will be able to keep the dollar at around 6 UAH/$1 and if desired, even to lower it to around 5,5 UAH/$1.But in the short term, the banks that bought the currency at the rate of 6,5-6,8 UAH/$1, will try to bully the selling rate on the cash market to minimize their losses (yesterday morning buying rate of cash dollar exceeded $ 7 USD.). "I think this process will last till the end of the week. Starting from Monday we will see that cash interbank and courses of the hryvnia closer together," says the banker.Meanwhile, the national Bank suspect that the bankers can go to the conspiracy and not to let the dollar in the cash market. "In cash desks of the banks is now about $0.8 billion, and they are in no hurry to sell them," says first Deputy Chairman of the management Board of the NBU Anatoly Shapovalov. According to him, the regulator will conduct unscheduled inspections to prevent currency speculation by banks and punish violators.Meanwhile, BYUT and the Secretariat of the President began an active attack on the national Bank. Representatives of BYUT said that they intend to propose to Parliament to Express distrust to the head of the Central Bank (in fact, to recommend to the President to send the head of the NBU). And the first Deputy head of the Secretariat Oleksandr Shlapak accused the leadership of the NBU in corruption. "For three weeks, the regulator has spent nearly $5 billion of foreign exchange reserves of the country, but the market has not felt the positive impact of this enormous intervention, the hryvnia exchange rate to continue to fall. Obviously, the national Bank used is far from perfect formula for addressing these funds. Moreover, criteria for the distribution of these huge resources incomprehensible not only to the public and to the market entities. This is a fair suspicion of corrupt actions by the NBU," - said Mr. Shlapak.Bankers say that such statements cannot be attributed only to the personal hostility which arose after Mr. Stelmach contributed to the departure of Mr. Shlapak from the NBU. On condition of anonymity financiers suggest that criticism of the Secretariat deals with the position of the leadership of the NBU as of Prominvestbank.We will remind, Vladimir Stelmakh stands for sale PIB's strategic investor, and the head of the Secretariat Viktor Baloga lobbied nationalized Bank in favour of Chairman of the Board of Ukreximbank Viktor Kapustin. "Statements of Yulia Tymoshenko of trying to play in this match and remove Volodymyr Stelmakh with the nuns," say the bankers.They also note that the NBU is trying actively to discourage speculators. Last week was one day checking NBU 30 commercial banks in the country, the purpose of which was to identify speculative transactions on purchase of foreign currency from the NBU and selling currency on the interbank currency market. "Stelmakh generally everywhere haunted by speculators," says one of the bankers.According to the Central Bank, in October, bankers acquired under fictitious import contracts and foreign currency position to $1.8 billion Now all violators of the NBU promises to refuse refinancing that for many banks can be a big threat. According to market participants, guilty participants of the market have only one opportunity to justify to the NBU - cheap sell currency.