National Bank of Ukraine it is artificial lowers dollar |
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| Written by admin |
| Sunday, 17 May 2009 09:42 |
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The main reason of strengthening of a hryvnia exchange rate in relation to dollar which is observed recently, is the National Bank order according to which banks should sell all sum of reserves under currency credits. Such opinion was stated by the treasurer of one of big banks with the foreign capital. Giving out credits in a foreign currency, banks formed under them reserves, buying currency in the market. Banks besides distributed the sum of reserves in a category of credit under which in the similar way formed new reserves. Now the Natsbank demands to sell the specified reserves. Proceeding from it, the course collapse is artificial in certain degree. The Natsbank, realises legal imperfection of the decision, but this tool is really effective for "press through" a course, the expert speaks. To buy, to sell The problem essence consists that reserves are registered in balances of banks, but, actually, they give in a category of credit. Therefore banks do not know where to find currency for sale. If financial establishments do not make it will undergo to sanctions from outside National Bank for infringement of the specification of a currency position. As, according to the decision, on sale of currency from reserves banks have even two months, the dollar exchange rate concerning grivna can fall even more, experts speak. However, it provided that the bank lobby will not find a way to press on National Bank, analysts mark. "Than it will end I do not know. Or National Bank will cancel the decision, or will give больший term. Or all banks will get under sanctions", - the banker predicts. The minor reasons Besides, the financier has allocated some more minor reasons of easing of dollar. First, banks do not have grivna, therefore to buy currency, both cash, and non-cash, simply there is nothing. Secondly, the excessive demand for dollar from outside the population has fallen. It is necessary to thank for it National Bank which regularly spends auctions on sale of dollars to the population for repayment of currency credits. Besides, import volumes have fallen. And capital outflow as shadow, and on official payments on debts, has considerably decreased. It is necessary to note and decrease in psychological intensity in economy. In particular, positive influence has rendered allocation of IMF of the second tranche of the credit. |
