Hryvnia's TWI appreciation

Макроэкономика 25.06.2015 The hryvnia's trade weighted value rose 2.36% yesterday while its market rate moved up just 2.08% as the result of two factors. First, the third review of 1Q real GDP yielded a 0.2% contraction, an improvement from the previous estimate of a 0.7% contraction. This was reinforced by updates of the Greek debt restructuring to determine if Greece withdraws its membership from the EU or adopts a socially painful austerity program. The second factor is that the Russian ruble dropped 1.14%. The more the hryvnia's TWI appreciates, the more severely the market will inevitably correct.