Dollar falls markedly after large NBU sales on the interbank market

For Tuesday, September 8, the National Bank set the following official exchange rates: – US dollar – 44.4654 UAH (-0.0962 UAH from the official rate for Monday, September 7); – euro – 51.6817 UAH (-0.1065 UAH from the official rate for Monday, September 7).

Rates were set at 16:00 on September 7 and reflect the following trends:

1. On the interbank currency market in the first half of the trading session trading took place in a narrow range of 44.49-44.55 UAH on the "bid" position. The average transaction price at 12:00 was 44.5320 UAH - 8.5 kopecks lower than the day before. After 12:30, the National Bank entered the market with large sales, and the story from last week repeated itself: under pressure from the NBU's sales, quotes fell to 44.35 UAH on the "bid" position. By the end of trading, the average transaction price dropped even more, so the National Bank was forced to cut the official dollar rate for Tuesday by 9.6 kopecks.

2. The euro on the international FOREX market traded today in a narrow range of 1.16054-1.16359 dollars. Due to the US holiday, activity on FOREX was low. At the time of the fixing, the euro was selling at 1.16229 dollars – 1.2 points higher than last Friday (1.16217 dollars). Taking into account the fall in the official dollar rate, the NBU cut the official euro rate for Tuesday by 10.6 kopecks.

Following the non-cash market, cash dollar prices also fell today. By evening in Kyiv, the dollar had fallen by 10 kopecks compared to last Friday evening. In Kharkiv, the dollar fell by 9 kopecks, in Dnipro and Odesa – by 7 kopecks, in Lviv – by 1 kopeck. Meanwhile, the gap between cash and non-cash dollar rates grew to 30 kopecks [cash more expensive – Ed.].