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Photo: bank.gov.ua
The NBU commented on the weakening of the hryvnia
The weakening of the hryvnia in September was due to seasonal factors. Its strengthening is scheduled for October – November.
Increased demand for currency from importers in September caused some weakening of the hryvnia, but now there is no serious pressure on the national currency, the press service of the NBU reported.
“The exchange rate policy does not change. The exchange rate is formed by the market, and we are only smoothing out excessive fluctuations in one direction or the other. In August, the supply of foreign currency was higher than the demand. Therefore, the rate hryvnia exchange rate strengthened and the NBU replenished its reserves. In September, demand for currency increased by importers. This led to some weakening of the hryvnia, “said the NBU.
At the same time, the regulator noted that in order to smooth out fluctuations, the NBU resumed interventions to sell foreign exchange.
“There is no fundamental pressure on the hryvnia. There is a significant supply of foreign exchange from exporters. In October-November, the supply of foreign exchange is likely to increase thanks to sales from agrarians,” suggested the National Bank.
At the same time, the NBU stressed that they do not intend to artificially slow down the strengthening of the hryvnia.
The fact that the NBU will not artificially restrict the strengthening of the hryvnia was also previously stated by the National Bank lava, Kirill Shevchenko.
Recall that previously the National Bank sold 160 million dollars to support the hryvnia. Changes in the behavior of the NBU in the market were more likely associated with changes in the open markets department than with a change in strategy, explained Dmitry Sologub.
