The NBU slightly increased the sale of currency from reserves and did not buy anything
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In the week from March 13 to 17, the National Bank sold 376.22 million dollars on the interbank foreign exchange market, but did not buy anything into the reserves.
About this testify NBU data.
According to currency intervention data, the National Bank sold $376.22 million on the interbank foreign exchange market during the week. At the same time, the regulator did not buy any amount of currency into reserves. Although since the beginning of the year, the NBU’s currency purchases have been small and mostly took place in the range of $10 million, for the first time since April 2022, the regulator did not purchase currency in a week.
In previous weeks, the regulator significantly reduced the volume of sales of currency from reserves, and in the last two weeks sold an average of 285 million dollars against 680 million dollars on average in February.
In total, since the beginning of the year, the NBU has sold 6.4 billion dollars and bought 61.3 million dollars.
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. It also sells currency to balance the market of exporters and importers in order to maintain a fixed exchange rate.
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 correction of the exchange rate by 25% to 36.6 hryvnias per dollar in mid-July, the situation stabilized, and weekly sales of the currency since then amount to about half a billion.
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