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ICU IS A FINANCIAL SERVICES GROUP PROVIDING SECURITIES TRADING, INVESTMENT BANKING AND ASSET MANAGEMENT FOR PRIVATE AND INSTITUTIONAL INVESTORS.
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Monthly current account (C/A) deficit exceeded US$4.1bn in July, the level seen first time ever. The surging trade-in-goods deficit (US$4.4bn in July and US$42bn over 12-month period) was the key culprit behind the record high C/A gap. Export of goods remain suppressed with only marginal 3% growth YoY in July while imports surged 20% with significant growth seen across the board.
The NBU strengthened the hryvnia again last week, while decreasing its FX interventions on the back of narrower FX market shortage. The hryvnia appreciated to UAH41.22/US$ last Thursday, the strongest level since April, and an official exchange rate ended last week at UAH41.28/US$.
In August, individuals reinvested proceeds from recent bond redemptions and also invested new savings, pushing their portfolio to a new record high of UAH100.5bn.
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