NBU: Hryvnia exchange rate stabilized

NBU: Hryvnia exchange rate stabilized

Ukrinform
Last week the hryvnia exchange rate has somewhat stabilized amid a decrease in rising demand for currency and increase in supply of currency, the press service of the National Bank of Ukraine (NBU) wrote on Facebook.

"Over the past five days, the situation has stabilized compared to previous weeks. On the one hand, the increased demand for currency has subsided, which was observed in previous periods due to the psychological factor caused by deteriorating information environment. On the other hand, the supply of currency has grown,” the report says.

As a result, over the past week the hryvnia on the interbank foreign exchange market strengthened from UAH 28.68 per U.S. dollar to UAH 28.11 per U.S. dollar at the end of trading last Friday.

The National Bank notes that last week, for the first time since the beginning of the year, the population sold more currency than bought.

"The National Bank will continue to follow the principles of flexible exchange rates. We monitor the situation in the foreign exchange market and, if necessary, conduct sale or purchase currency interventions. The current volume of international reserves and monetary tools of the NBU allow calming temporary excessive fluctuations in the market,” the report says.

As Ukrinform reported, the National Bank bought $333.7 million on the interbank foreign exchange market last week.

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