Daily Insight-Hryvnia steady, stocks up, new government initiatives in focus

On Wednesday, the hryvnia held surprisingly steady on the Ukrainian FX market, with, according to UkrDealing, trading opening at 7.915-7.925/USD, the same rate as of Tuesday\'s close, and the strongest point reached during the day, and closing at the same rate. The NBU again bought dollars at the rate of 7.925/USD. The NBU marginally raised its official exchange rate to 7.9263/USD for Wednesday. The hryvnia appreciated marginally on the cash FX market, trading at 7.8715/USD for bid offers at the domestic interchange stations, and 7.9208/USD on ask offers. Ukraine\'s stock markets continued their rally on Wednesday, with the PFTS index moving up 3.33%, to end the day at 996.76 points, and the UX stock exchange up 3.53%, to 2,527.84 points. Total turnover on the PFTS was down over 2x from Tuesday\'s level, at US$39.6m (UAH314.2m), which comprised equity trading (6.08% of the total), state bonds (93.67%) and corporate bonds (0.25%). The total amount of securities traded on the UX stock exchange was up from Tuesday\'s level, at US$11.88m (UAH94.2m).