Daily Insight -- Hryvnia under pressure
On Wednesday, the Ukrainian hryvnia depreciated against the US dollar as it was under pressure over the increase in banking sector liquidity which amounted to almost UAH5bn. Demand for the foreign currency, which still exceeds supply, is pushing the hryvnia down. The first time it fell since the beginning of the week, the Ukrainian currency depreciated 0.2% to 26.1896 USD/UAH on Wednesday and sold for 26.04 USD/UAH versus 26.19 to buy in the Ukrainian cash market. Its CPI-based real trade-weighted index rose 0.19% to 106.31; in year-on-year terms, it is up 7.91% from 98.52 last year.
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