Dollar rose after tense trading, while cash market began correction

On Wednesday August 12, the National Bank set the following official rates: - US dollar – 44.8660 UAH (+0.0255 UAH to the official rate for Tuesday August 11); - euro – 51.7815 UAH (-0.0218 UAH to the official rate for Tuesday August 11).

The rates were set at 16:00 on August 11 and reflect the following trends:

1. Immediately after the start of trading on the interbank currency market, quotations went up and within 25 minutes reached the maximum daily level of 44.911 UAH on the bid position. Until 13:00, deals were in the range of 44.88-44.91 UAH. The average trade price at 12:00 was 44.9043 UAH – 8.7 kopecks higher than on Monday. After lunch, the National Bank increased currency sales, and quotations went down. The average trade price by the end of trading was lower than at 12:00, but still higher than on Monday. Therefore, the National Bank was forced to raise the official dollar rate for Wednesday August 12 by 2.5 kopecks.

2. The euro on the international FOREX market on Tuesday was traded in a narrow range of 1.1531-1.1549 dollars. At the time of fixing, the euro was sold at 1.15365 – 14 points lower than on Monday (1.15505 dollars). Therefore, the NBU lowered the official euro rate by 2.2 kopecks.

On the cash market, after lunch, prices started to decline after several days of growth. If yesterday evening in the capital the dollar was sold at 44.89 UAH, then today by evening its price dropped to 44.86 UAH. The dollar fell in price by 2 kopecks in Kharkiv, by 7 kopecks in Odesa. In Dnipro and Lviv, prices remained unchanged. According to experts, the cash exchange rate is tired of rising, and a small technical correction is now being observed.