Daily Insight -- UAH near 7-month low
The hryvnia weakened another 0.5% to 27.0139 USD/UAH, having extended its Tuesday losses. The key drivers of the UAH's depreciation were excess demand for the USD in the local FX market and higher liquidity. Although the USD was globally weaker on Wednesday, it did not support the hryvnia. In the local market, the hryvnia sold for 26.69 USD/UAH versus 26.83 to buy at the Ukrainian cash market. Its CPI-based real trade-weighted index fell 0.66% to 111.08; in year-on-year terms, it is down 1.55% from 112.80 last year.
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