Buyers' expectations in the interbank market were not met: NBU raised the dollar exchange rate

For Monday, October 12, the National Bank has set the following official rates:

- US dollar – 44.8894 UAH ( +0.0368 UAH to the official rate for Friday, October 9);

- euro – 50.3138 UAH ( +0.1753 UAH to the official rate for Friday, October 9).

The rates were set at 15:30 on October 9 and reflect the following trends:

The Friday trading session on the interbank currency market took place in a narrow range of 44.875-44.937 UAH on the bid side with low buyer activity. The average transaction price at 12:00 was 44.8934 UAH – 6 kopecks higher than yesterday. As yesterday, buyers expected that after 13:00 the National Bank would enter the market with another intervention, and quotes would fall even lower.

However, the NBU behaved unconventionally: it appeared but sold only a small amount. As a result, some buyers were forced to buy dollars at sellers' prices. As a result, quotes not only did not go down, but even rose somewhat by the close of trading on Friday. Therefore, the NBU raised the official dollar rate for Monday by 3.7 kopecks.

The euro on the international FOREX market rose to 1.12429 dollars in the morning on Friday. After that, the cheaper dollar began to be bought, and the euro went down again. At the time of fixing, the euro was sold at 1.12084 dollars – 29.9 points higher than on Thursday (1.11785 dollars). Therefore, in parallel with the increase in the official dollar rate, the NBU raised the official euro rate for Monday by 17.5 kopecks.