DAGDA LLC is company specializing in financial analytics and research. It was founded to serve the interests of investors, issuers and financial intermediaries in Ukraine. The experience of our founders plus our experts’ in-depth knowledge of the local market, combined with our financial specialization, have secured leading positions for us in the Ukrainian market right from the start. Among our clients are the largest stock exchanges of the European Union and the Asian-Pacific region, foreign investment banks and funds, respected audit, legal and consulting firms.
Euro is not exactly that currency which can take up a global stance. Because we should recognize that approximately half of the world GDP is generated in the USA and countries friendly to them, which would never depart from payments in dollars. That’s why the dollar will remain the dollar. The question is only the exchange rate. ››››››
Fitch Agency again plans to lower the ratings of 9 developing countries. Ukraine is among them. With this we have already the lowest rates among CIS, Baltic countries, Serbia and Romania. That’s why investors have started a rush to take out the currency from Ukraine. ››››››
Economists of the World Bank and IMF declared a leader among the countries which are threatened by default in 2009. This is Ukraine which is above Russia, Kazakhstan and Belorussia in this list. ››››››
In November the State Statistics Committee of Ukraine fixed the biggest from 2001 monthly decrease in the level of average salary. Last month nominal average salaries of Ukrainians decreased by 4.9%, real – by 6.2%. Experts note that after seasonal extra paying in December the tendency of salary decreasing will continue during the whole first part of 2009. ››››››
The dollar rate is overvalued. It is too high especially in relation to euro. Dollar in comparison with euro is weakening. Many analysts think that from the beginning of next year we will observe the decline of the era of the dollar as an instrument of currency savings, and dollar will be changed into other currencies, that will become stronger by that time. ››››››
Last week the dollar reached “ten” level. Experts unanimously say situation had gone out of control. But the market was managed to calm down by common efforts of the President, the National Bank and the Ministry of Finance. The Head of Government demands from the NBU to cancel licenses for commercial banks: for some – three months cancelling, for others – six months, for the rest – forever. But the main regulator threatened to stop financing. We got the reaction already on Friday. For the first time in many months National Bank was buying out the foreign currency from the interbank market. ››››››
Hryvna can get cheaper by nearly 25% more if the National Bank at that rate will not intervene in the foreign exchange market. This is the warning of Bloomberg agency, which refers to the conclusions made by the leading German banks. But the NBU can not intervene because of IMF warnings. There is only one condition known at the moment which limits National Bank’s actions: by the end of December currency reserves must comprise not less than 31 billion dollars. ››››››
The National Bank scares banks by its plans to decrease the volume of refinancing and make it more expensive. The Chairman of NBU promised such action after his meeting with the President. ››››››
18 banks have already been checked on currency speculations, 20 more wait for inspection. They will be punished according to the results of the checks: some will be fined, others will be stripped of license for half a year or even forever. ››››››
Yulia Timoshenko’s government uses any possibility to increase the compensation financing of debts of USSR Savings Bank. Yesterday the Cabinet gave UAH 400 million to Oschadbank, which can be taken by 400 thousand depositors per 1 day. But more than 11.5 million depositors registered in the bank’s register will not get money this year. Experts estimate the Cabinet’s decision in different ways: a positive social effect can be leveled by inflation expectations. ››››››
