Redemption by the National Bank of Ukraine of $858.3 million per week

by Olha Povaliaieva
Monday, November 15, 2021
Redemption by the National Bank of Ukraine of $858.3 million per week

Ukraine bought out a record amount since 2019 on the interbank market

In the period from 8 to 12 November, the National Bank of Ukraine bought dollars on the interbank market without making a sale.

It should be borne in mind that from the beginning of August to the end of this year, the NBU reduced the planned volumes of daily interventions to buy foreign currency to replenish international reserves.

The representatives of the National Bank themselves declare the stabilization of the situation in the interbank market and its growing "ability to self-balance."

As you know, the hryvnia began to strengthen against international currencies:

  • 26.38 UAH / USD
  • 30.52 UAH / EUR

Economists and analysts disagree on the future of the hryvnia, but most are positive.

"In November, the dollar will continue to decline. The trend of strengthening the hryvnia will continue thanks to strong monetary policy, stable cash flow to the state treasury due to expensive and stable exports, low risks of GDP drawdown during the lockdown, cooperation with the International Monetary Fund (IMF) as a creditor, the readiness of the financial regulator for future payments on previously taken debt obligations, as well as the upcoming increase in the discount rate by the NBU in 2022," said a financial analyst at Esperio Alexander Boltyan.

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