Daily Insight -- Hryvnia close to 26.6
On the last day of the week, the hryvnia continued to depreciate against the US dollar. Demand for foreign currency at the local FX market remains high, which weighs on the UAH. The NBU's foreign currency auction on Thursday did not help support the current position, and on Friday the regulator stayed away from the market and the currency fell another 0.2% to 26.5785 USD/UAH as it sold for 26.33 USD/UAH versus 26.49 to buy in the Ukrainian cash market. Its CPI-based real trade-weighted index fell 0.79% to 105.06; in year-on-year terms, it is up 7.07% from 98.12 last year. By our estimates, the hryvnia remains overvalued.
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