Dollar falls for second day: what's happening in the currency market

On Wednesday, September 2, the National Bank set the following official rates: - US dollar – 44.4553 UAH (-0.0696 UAH from the official rate for Tuesday, September 1); - euro – 51.5357 UAH (-0.1012 UAH from the official rate for Tuesday, September 1).

The rates were set at 16:00 on September 1 and reflect the following trends:

1. On the first day of the new month, the National Bank continued active interventions on the interbank currency market, which caused trading before lunch to take place in the range of 44.44-44.52 UAH. The average transaction price at 12:00 was 44.4794 UAH – 9 kopecks lower than the day before. After 15:00, the National Bank left the market, which provoked an increase in quotes that rose to 44.56 UAH on the bid side. Nevertheless, the average transaction price by the end of the day fell even further, so the National Bank was forced to lower the official dollar rate for Wednesday by almost 7 kopecks.

2. The euro on the international FOREX market (was trading today in the range of 1.1588-1.1624 dollars, i.e. at the same levels as yesterday. At the time of fixing, the euro was sold at 1.15936 dollars – 3.7 points lower than on Monday (1.15973 dollars). Taking into account the reduction in the official dollar rate, the NBU lowered the official euro rate for Wednesday by 10 kopecks.

The cash dollar today fell in some places and remained at Monday's level in others. In particular, in Poltava and Lviv, the dollar was sold at yesterday's prices; in Odesa it fell by 2 kopecks, and in Kharkiv and Dnipro – by 4 kopecks. The continuing decline in dollar price tags on the first day of autumn surprises even experienced cash market operators. According to them, it will not last long. The slightest change in the interbank currency market trend will immediately cause a surge in demand for cash currency and a parallel rise in its price.