UAH inches lower

Макроэкономика 23.06.2015 The hryvnia traded down 0.36% from last Friday's close, touching the lower end of the NBU's new comfort range. Over the past week, the currency moved down 1.28% on average daily UAH/USD trading volume of US$155m. Yesterday's trading volume was US$144m with a 65% FX market turnover to foreign trade turnover ratio, an abnormal level suggesting that some FX purchase-sell operations were either postponed or not reported (Chart 12, p.7). Under current conditions, the NBU appears unable to relax its tight capital controls through the remainder of 2015 at the very least. The hryvnia's trade weighted index was down 0.49% yesterday and down 1.89% over the past week.