Dollar sharply fell after three days of growth: NBU exchange rate for September 28
For Monday, September 28, the National Bank set the following official rates: — US dollar – 44.8414 UAH (-0.1315 UAH compared to the official rate for Friday, September 25); — euro – 51.1358 UAH (+0.0138 UAH compared to the official rate for Friday, September 25).
Rates were set at 16:00 on September 25 and reflect the following trends:
1. After three days of growth, on Friday the interbank currency market began a decline in non-cash dollar quotes, triggered by a drop in demand for the more expensive currency. The National Bank also contributed significantly by increasing interventions. By 12:00 the average transaction price fell to 44.9348 UAH. After lunch, the dollar continued to decline and by the close of trading fell to the level of 44.66 UAH on the bid side. The average price by the end of the trading session fell even more, so the NBU was forced to lower the official dollar rate for Monday by as much as 13 kopecks.
2. On Friday, the euro on the international FOREX market stopped falling and went up amid the start of dollar sales. By the time of writing, it had risen to 1.14107 dollars. At the time of fixing, the euro was selling at 1.14036 dollars – 36.3 points higher than on Thursday (1.13673 dollars). Therefore, despite the fall in the official dollar rate, the NBU raised the official euro rate for Monday by 1.4 kopecks.
In the cash market, the situation mirrored what was happening on the interbank market. As soon as non-cash dollar quotes began to decline, prices in wholesale exchange offices began to fall in parallel. By the evening, in the wholesale exchange offices of the capital, the dollar could be bought at 44.85 UAH (7 kopecks cheaper than yesterday's price). In Kharkiv, the dollar fell to 44.89 UAH, in Dnipro – to 44.90 UAH, and in Lviv and Odesa – even to 44.83 UAH. Yet just yesterday afternoon, in regional centers, they were asking 45 UAH or more for the dollar!
According to analysts, such sharp fluctuations characterize the current cash currency market as "thin": the volume of operations on it has significantly decreased compared to previous years, and exchange rate formation has become highly dependent on external factors, for example, on the trend in the interbank currency market. Again, the National Bank, which tightly controls what happens in the currency market, managed to calm the majority of the population and make them believe in the controllability of the situation. Therefore, now at the first signs of a rise in the dollar exchange rate, people no longer run, as before, to exchange offices to exchange all their available national currency for foreign "paper".
