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  • alpha_zeta
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    Author’s reply » Ukraine gov't reports its foreign currency reserves monthly including the purposes , the item of most interest is how much is spent on managing its UAH.


    In January they spent quite a bit, and that did not help as the UAH hit 9:1 on Feb 5 and fell to 8.53:1 when they announced capital controls.
    However, as of Feb 13 it has risen back up to 8.76:1 with futures indicating devaluation to 10.4:1 .


    So how much have they been spending in February? Surely it gets costlier, the higher in absolute amount, and with more volatility.


    Russia may want to rethink its loan or be dragged into Ukraine's mess. Meanwhile el Presidente Yanko greatly miscalculated the resolve of the people. Too much ego and too many deals in his network and $500million of wealth gained (gain from a base of just $10m) in 3 years seems a little unreal (or is it surreal?)


    Ukraine ought to take a page from Kazakhstan's book and devalue ... or do they want the international marketplace to speak, meanwhile the gov't / central bank deplete their reserves for the sake of showing their strength.


    The acute problem has turned chronic...with some acute periods from time to time.
    13 Feb 2014, 11:59 PM Reply Like
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