UAH hovers at 21.7/USD

Макроэкономика 17.03.2015 The hryvnia continues to hover at 21.7/USD, which authorities appear to approve. It is being referenced in the state budget law as well as in the IMF staff report issued to accompany the recently adopted US$17.5bn 4-year EFF programme. Reportedly, the NBU was buying FX into reserves this month as the tight regulatory regime limits access to the FX market to businesses that rushed to buy FX. The NBU continued to issue verbal interventions into the media assuring the general public that its policies are paying off and it is on the course to ease regulatory measures that have been aimed to calm down the depositors' run on banks and the currency.