Ukrainian stocks
were mostly higher last week as the recent strengthening of the hryvnia is
having a doubly positive effect on the market, both by increasing confidence in
the economy and in pure valuation terms of the UAH-denominated equities. The
hryvnia edged up half a percent for the week to close at 25.37 UAH/USD on the
interbank market. The NBU released a rather optimistic forecast that the
country’s foreign reserves could increase by USD 5.4bn by year-end to reach USD
18.7bn.
In macroeconomic
news, the NBU lowered its benchmark interest rate from 22% to 19%, saying this
was made possible by an alleviation of risks to price stability. The interest
rate cut 1 percentage point larger than we had expected.
full reportEavex Capital welcomes any questions or comments you may have regarding our
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Please contact our office in Kyiv at 380-44-590-5454, or
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