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Photo: dollar exchange rate (Vitaliy Nosach, RBC-Ukraine)
Danylyshyn released operational data on the market situation
The prevalence of demand over supply of foreign exchange continues to be observed in the interbank foreign exchange market of Ukraine. However, its volume has been reduced by almost half compared to the previous week, from 207 to 114 million dollars.
This was announced by the head of the National Bank Board, Bohdan Danylyshyn, on his Facebook page.
As Danylyshyn pointed out, about half of the excess demand for foreign currency ($ 58 million) comes from bank customer transactions on “forward” terms.
The head of the NBU Council also said that the volume of hryvnia government bonds owned by non-residents over the past week decreased by UAH 1.9 billion (2.3% or $ 68 million in dollar terms), “indicating an acceleration in the exit of non-residents of government securities denominated in national currency “.
Remember that a currency forward contract is a currency transaction under a contract, the terms of which provide for the execution of a transaction with the delivery of currency under a forward contract later than the second business day after the day on which the contract is concluded.
Earlier, the director of the National Bank of Ukraine, Kirill Shevchenko, said that the supply of foreign exchange from exports should grow in the fall. However, the BNU does not plan to break the market trend through interventions.
Recall that the size of Ukraine’s international reserves during September 2020 decreased by 8.7% (by -2 523.01 million dollars). As of October 1, the reserves amounted to $ 26,525.74 million. Thus, the monthly fall in reserves was the largest in 2020.
