NBU sells $739.5M on interbank market in past week

The National Bank of Ukraine (NBU) sold $ 739.5 million on the interbank foreign exchange market over the past week.

These are the results of currency interventions published on the central bank’s website, Ukrinform reports.

Between November 27 and December 1, 2023, the National Bank sold $739.5 million and purchased $1.6 million on the interbank foreign exchange market.

Since the start of 2023, the National Bank has sold $25.548 billion and purchased $214.66 million on he interbank foreign exchange market.

As reported by Ukrinform, the National Bank sold $26.38 billion and EUR 1.789 billion, as well as purchased $3.27 billion and EUR 110.97 million on the interbank foreign exchange market in 2022.

On October 3, 2023, the National Bank of Ukraine switched to the regime of managed flexibility of the exchange rate. NBU Governor Andriy Pyshhnyy explained that the central bank would not let the exchange rate go into "free swimming" and that the regulator would continue to monitor the situation on the interbank foreign exchange market.

The fixed exchange rate of UAH 36.5686 per U.S. dollar was in effect in Ukraine from the end of July 2022 to October 3, 2023.