Currency swing, the hryvnia exchange rate began to grow.

The fight against speculation in the foreign exchange market brought the first result. After fourteen banks were disconnected from the interbank, the dollar quickly fell by three hryvnias.

Throughout the past week, the Ukrainian currency has constantly fallen in price, its rate on the interbank market fell to almost fourteen hryvnias per dollar. Exactly the same situation was in the cash market. However, the trading volume did not rise above four hundred and fifty million dollars. For comparison, we can say that during the Maidan, this figure exceeded four billion dollars. According to this indicator, we can conclude that the jumps in the exchange rate are largely caused by speculation, and not by real indicators of demand for currency. Continue reading →