Bond Market Insight -- MoF accumulates FX
Yesterday, the Ministry of Finance gave preference to FX-denominated bonds so as to be ready for next week's FX debt repayments without having to resort to using reserves from other sources. At the beginning of the month, UAH21bn was in the government's accounts in FX. The MoF offered short-term bills and accepted higher rates to collect about US$187m and EUR69m, and an additional UAH2.8bn in local currency.
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