OREANDA-NEWS. On 8 September 2009 was announced, that National Bank of Ukraine Head Volodymyr Stelmakh said yesterday at a press conference that the NBU is ready to allocate USD 1 bln in September to support the hryvnya. Stelmakh said the interventions would take place in the form of currency auctions, where the rate is determined by demand. Mykyta Mykhaylychenko: The NBU is now looking for new ways to support the hryvnya while minimizing intervention volumes. This suggested type of auctions might not bring desired exchange rate stabilization in the short-term if the NBU does indeed sell US dollars to the highest bidders. Under the current circumstances of excessive foreign exchange demand, downward pressure on the hryvnya will persist in the coming months.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.