NBU reduced currency sales by 10%, but interventions still exceed $1 billion

Last week, the National Bank of Ukraine reduced the volume of currency interventions on the interbank market. The regulator sold $1 billion 18.7 million, which is $119.9 million less than the previous week's figure.

Thus, the weekly volume of currency sales decreased by 10.5%. The previous week, the National Bank spent about $1.139 billion on interbank operations.

• currency sales for the last week — $1.0187 billion;
• sales of the previous week — about $1.1386 billion;
• reduction — $119.9 million, or 10.5%.

The NBU conducts currency interventions to cover the structural deficit of currency on the market and to smooth excessive exchange rate fluctuations. The regulator sells dollars to banks when the demand for foreign currency exceeds its supply.

Despite the weekly reduction, the volume of interventions remains significant and exceeds $1 billion. This indicates the persistence of high demand for currency on the interbank market.

The official dollar exchange rate set by the NBU as of August 10 is 44.7579 UAH. The euro exchange rate is 51.6148 UAH.

At the end of July, Ukraine's international reserves amounted to $51.2 billion. These assets are used, in particular, for conducting currency interventions and securing payments of state authorities.

Based on materials from: National Bank of Ukraine