Ukraine became a participant of the international Central securities Depository, which the hryvnia assured of stress
This is stated in the material edition of UBR.
It is noted that since Monday will launch a link to the international Central securities Depository Clearstream, through which foreigners will be able to purchase Ukrainian government bonds.
Experts do not doubt that our securities will be in great demand among foreigners, because the Ministry of Finance offers them a fabulous rate of interest. International investment funds are used to yield at 2-3% per annum, and Ukraine is ready to offer up to 18%.
What I decided to keep silent Ukrainian top officials are on large risks. First and foremost, is the danger of “hot” capital, which will worsen as our securities begin to trade actively foreigners
NBU is confident that it will be actively buying the dollar on the market, which will increase the size of its foreign exchange reserves. But do not forget, that Ukraine is forced to pay huge sums on the national debt ($15 billion for 2019 and 2020).
Gosregulyator also hopes to be able to restrain the level of inflation. In fact, the more he will buy up the American currency, the more intense will print it for a local currency. Will he manage to balance so as not to inflate prices in the shops, only time will tell.
In addition, the NBU I want to deal with the delay rate of hryvnia on the currency market, which is inevitable. The words “small package” foreigners can only convince people who knew nothing about non-cash foreign exchange trade in our country.
Bankers, in turn, realize that the risk of “hot capital” after the start of sales of securities will only worsen, and they do not believe that the NBU can handle him even with increased reserves, and it would be unnecessary stress for the hryvnia.
After the triple devaluation of the national currency sedative speech speculators in foreign currency NBU “divide by 10” and not taken seriously. Since our interbank liquidity is extremely low, with the trading volume ranges from $50 million to $150-200 million, respectively, in these conditions, the purchase and sale of even $10 million can dramatically inflate the dollar in any direction that will affect the lives of ordinary Ukrainians.
Recall, the banks decided to push the Ukrainians to strength: Deposit rate has changed.
As reported Politeka, banks are refusing to accept dollars: what’s happening and what to do
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