The NBU increased the sale of foreign currency at the interbank level to almost $800 million
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During the week from January 30 to February 3, the National Bank sold $782.57 million and bought $5.05 million on the interbank foreign exchange market.
About this testify NBU data.
According to currency intervention data, the National Bank sold 782.57 million dollars on the interbank foreign exchange market during the week. At the same time, the regulator bought $5.05 million. Last week, the NBU sold $667.23 million and bought $3.2 million.
The NBU uses the sale of foreign currency from reserves in particular to curb the pressure on the foreign exchange market caused by the hryvnia issue. We will remind that last year the regulator “printed” UAH 400 billion by buying government bonds and became the biggest a source of budget financing. The NBU also sells foreign currency to balance the market of exporters and importers in order to maintain a fixed exchange rate.
In January 2023, the net sale of currency by the National Bank amounted to $3 billion, which is slightly less than the December net sale of $3.2 billion. For comparison, in November it amounted to 1.6 billion dollars.
Since the beginning of 2023, the National Bank has bought 30.05 million dollars and sold 3.5 billion dollars. Last year, the volume of currency purchases amounted to 3.27 billion dollars, and sales – 26.38 billion dollars.
We remind you:
Since the end of May 2022, the NBU has been forced to sell about $1 billion of reserves every week for interbank balancing. After the exchange rate was corrected by 25% to UAH 36.6 per dollar in mid-July, the situation stabilized, and weekly sales of the currency did not exceed half a billion.
At the same time, at the end of the year, sales of currency from reserves increased again to 800 million dollars – 1 billion dollars per week, and have remained at the same level since the beginning of the year.
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