NBU: Hryvnia strengthened by 2.3% against U.S. dollar in April

“The foreign exchange market conditions remained favorable in April. The prevailing foreign exchange supply from banks' clients exceeded demand, in part, due to record inflows of foreign portfolio investment in hryvnia bonds. This led to the prevailing appreciation trend in the foreign exchange market throughout most of the month – the hryvnia strengthened by 2.3% month-on-month against the U.S. dollar, and by 3.1% month-on-month against the euro,” says the NBU’s Macroeconomic and Monetary Review Report for April 2019.

It is also noted that the National Bank conducted interventions in the foreign exchange market in order to replenish international reserves and smooth out excessive fluctuations in the market. In April 2019, the positive balance of the NBU’s foreign exchange market operations amounted to nearly $300 million.

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