Daily Insight -- Hryvnia down
The hryvnia depreciated further, following a previous 0.7% increase, as it fell 0.1% to 26.5862 USD/UAH, most likely as a correction after appreciating significantly. There were no fundamental factors that weighed on the hryvnia. While the USD depreciated on global markets, the hryvnia was sold for 26.67 USD/UAH versus 26.89 to buy in the Ukrainian cash market. Its CPI-based real trade-weighted index fell 0.77% to 105.51; in year-on-year terms, it is up 3.86% from 101.59 last year.
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