Cash FX Market to Balance after Banks` Tills Replenishment with Foreign Currency, - OTP Bank Expert
The cash foreign exchange market should come to equilibrium after banks` tills are replenished with foreign currency, the leading expert of the OTP Bank’s Department of Treasury and Financial Institutions, Anton Kurinnyi believed.
"The National Bank allowed banks to sell foreign currency cash to the clients, though quite limitedly. That decision should calm the cash market a bit. This week, the US dollar rate reached UAH 41-42.00, but we expect it to return to the level of UAH 38-39.00 per dollar USA," he said.
According to him, such an increase in the exchange rate can affect the growth of prices only for "grey" import, because one can purchase US dollars currently more beneficially on the interbank market (36.5686-36.9343 UAH/dollar) and without restrictions.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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