UAH poised to stabilize lower

Макроэкономика 11.11.2014 Top NBU and bank officials met yesterday to assess current market conditions and concluded that they would maintain the FX rate within 15-16/USD. While the NBU would add no new regulatory restrictions, the hryvnia fell victim to market pressure and slid 2.30% to 14.8540/USD. In real trade-weighted terms, it declined 2.94% because the Euro lost 0.27% and the Russian ruble rose a significant 2.37% as the Russian central bank abandoned its policy of strong interventions but vowed that it would support the ruble from a sizable move if necessary.