I was moderating the comments today and inadvertently deleted the latest comment by one of the Anonymous commenters. My apologies.
BTW, the hryvna is at 9.20 on the street today. Internals in some banks are predicting 10 by years end. I was told this yesterday when the hryvna was at 8.20. Not hard to believe today.
The real show is on the ground. The rest is just sideshow. These guys live in a bubble and not only Yuschenko who deserves his share of the blame. They have no idea how this is affecting the people on the ground but they still play their game of musical chairs.
And the worst of it won't hit until spring.
2 comments:
You really need to look at the spread between the sell price and the buy price and triangulate that with the Euro and the Russian Rubble. There are reports today that the value of the hryvnia to the US dollar has increased in the last 24hrs from a low 10.5 on Wednesday to 8.5-9 Friday. The local currency is also down against the Euro. Reports of insider trading and speculation on the fall of the hryvnia is also adding to the financial pressure on Ukraine. Whilst it is no doubt hurting the man/woman on the street the real players and money movers are the banks and large corporation. The deviation of the Hyena to US Dollar is also having a serious impact on Ukraine's foreign debt to Russia for gas. The contract price is set in US dollars.
Hyena? Rubble? That's funny. How about yourow and dolor?
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