In the context of the equity market, I believe that the lack of depth and breadth and weaknesses in the price discovery mechanism, with multiple exchange floors and gyrations in equity markets driven by speculative tendencies, undermine the process of stock valuation.
Contrary to the common belief, the continued foreign investment in hryvnia government bonds did not have a major impact on the foreign exchange market, unlike in the past months. At the same time, the NBU actively purchased excess foreign currency to increase international reserves. Net foreign exchange interventions have totaled more than USD 5.5 billion since the start of 2019.