Daily Insight -- UAH extends losses
Over the last several weeks, the hryvnia strengthened as a result of a weak US dollar as well as 2Q17 and August tax payments. However, after these factors diminished, the hryvnia weakened for the fourth consecutive trading session. Despite weakening 0.2% over the past trading session, with Friday's close at 25.7484 UAH/USD, it was still well below the weakest level of the last three months at 26.2825 UAH/USD. At the end of the week, the UAH sold for 25.49 UAH/USD versus 25.70 to buy in the Ukrainian cash market. The hryvnia's CPI-based real trade-weighted index fell 0.52% to 107.45; in year-on-year terms, it is up 11.71% from 96.19 last year.
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