Analysts at the financial publication ICU announced an improvement in the balance of the foreign exchange market last week. Cumulative sales increased to over $500 million daily. From November 10, the entire market turnover passed the $800 million mark.
“The situation looks in such a way that exporters, who tried to hold the currency until a better time, ran out of hryvnia resources and returned to the foreign exchange market. And non-residents have returned to the government bonds market with caution,” wrote the ICU financiers.
Over the past 3 weeks, interventions on the sale of foreign currency prevailed — about $900 million. Last week, the NBU mainly bought foreign currency for a total of $54 million.
“In general, the hryvnia exchange rate over the past week has strengthened by 1.1% — up to 27.04 UAH/USD. and keeps the tendency to strengthen on the general improvement of information about the security situation in the country and with the potential activation of non-residents in the government bonds market. We expect the rate to strengthen gradually but remain within the corridor of 26.5-27 UAH/USD” ICU.