To maintain the hryvnia exchange rate, on March 23, the National Bank sold $ 50 million on the interbank foreign exchange market, whereas last week the regulator sold $ 100-300 million daily.
March 23, to smooth exchange rate fluctuations, the National Bank of Ukraine sold $ 50 million on the interbank foreign exchange market, the regulator said on Facebook.
“Currency selling interventions were only $ 50 million, unlike the previous weeks when we were selling at $100-300 million daily, “it was informed.
Trading on the interbank foreign exchange market opened at a level close to 28 UAH /$.
“For some time, demand prevailed over supply. However, in the future, the supply of currency increased, and quotes fell to around 27.6–UAH 27.7 per $ 1 ” – said the NBU.
The regulator claims that “the intensity of fluctuations in the foreign exchange market is weakening, and the market looks more balanced.”
The NBU said that the number of sellers of foreign currency in the interbank market increased, and the demand for foreign currency from individuals decreased.
“The good news is that in recent days we have seen an increase in the number of currency sellers in the interbank market. In addition, there has been a significant drop in the demand for foreign currency from individuals. In recent days, last week, citizens bought as much currency as they sold, but not forming additional pressure on the hryvnia, “the regulator informed.
On March 24, at the opening of the interbank market, the purchase rate was 27.8 UAH / $, and the sale was 27.87 UAH / $. The official exchange rate on March 24 is set at 28.11 UAH / $.
The hryvnia exchange rate began to decline on March 10 amid a record drop in world oil prices, as well as panic in the stock markets due to the coronavirus pandemic. Since the beginning of the year, the official hryvnia to dollar rate has fallen by about 3 UAH.
March 20, the National Bank said that the hryvnia for the first time in the past few weeks has strengthened, and the demand for currency from the population fell.
According to the NBU expert platform, from the beginning of the year and until March 19, banks bought $ 402.5 million more from customers than they sold them ($ 3.85 billion compared to $ 3.45 billion).
This year, the NBU has already sold more than $2.6 billion to keep the hryvnia exchange rate.
The regulator believes that the main reason depreciation of the Ukrainian national currency – a panic.
An outbreak of COVID-19 coronavirus infection began in December 2019 in China. March 11, the World Health Organization announced the spread of coronavirus pandemic. According to Johns Hopkins American University on March 24, the total number of infected people in the world exceeded 380 thousand, of which more than 101 thousand recovered, and 16 587 died.
In Ukraine, coronavirus was confirmed in 84 people, three of them died.