Capital outflow from Turkey “won’t have significant impact on Ukraine, including FX market, in short-term” because non-residents hold small amounts of Ukrainian government bonds,
Friday, August 17, 2018

Capital outflow from Turkey “won’t have significant impact on Ukraine, including FX market, in short-term” because non-residents hold small amounts of Ukrainian government bonds,

Capital outflow from Turkey “won’t have significant impact on Ukraine, including FX market, in short-term” because non-residents hold small amounts of Ukrainian government bonds, Oleg Churiy, Deputy Central Bank Governor, emails Bloomberg and Interfax-Ukraine. “Ukraine’s integration into global financial markets is weak,” Churiy says. This limits its exposure to the current drop in interest in emerging market bonds and currencies. The 40% drop in the Turkish lira will erode the buying power of Turkey, consumer of 6.4% of Ukraine’s exports last year. Through this June, Ukraine exported to Turkey $458 million in food. On the other side, the lira depreciation will “be positive” for Ukrainian consumers who buy Turkish fruit, vegetables, shoes and clothes, he wrote.

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