OREANDA-NEWS. On 31 March 2009 was announced, that the NBU sold USD 23mn to 53 commercial banks, aimed at the foreign currency loans repayment of their retail clients. The auction was held over the schedule, anticipating the next trade on 27 March 2009. Note that the NBU sold around USD 200mn since 27 February, when the first foreign currency auction was conducted.

Millennium Capital sees the news to be POSITIVE, since the NBU may affect the interbank exchange rate via selling of moderate foreign currency amounts, while conducting its foreign currency auctions. In particular, after the last NBU’s auction, held on 20 March, hryvnia started its slight devaluation (1% in 3 days). Nevertheless, the exchange rate is expected to be about the same till the week end, related to the extra auction held and the NBU’s announcement about its auction on 27 March 2009.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of the major investment banking institutions.