With foreign investors increasingly believing in Ukraine’s foreign exchange rate stability, the Finance Ministry sharply cut yields in short term debt

With foreign investors increasingly believing in Ukraine’s foreign exchange rate stability, the Finance Ministry sharply cut yields in short term debt up for auction yesterday, the Ministry reports. Yields were cut by 60 basis points on 3-month papers, to 8.47%; by 13 basis points on 1-year papers, to 10.67%; and by 11 basis points on 1.5-year papers, to 11.04%. Unchanged were yields on 2-year papers, at 11.8%, and 3-year papers, at 12.05%. Also unchanged was the yield on 2-year US dollar bonds – 3.9%. Total auction proceed were the equivalent of $411 million, the Ministry posts on Facebook.