The National Bank of Ukraine sold almost half a billion dollars from reserves in a week

Ekonomicheskaya Pravda: The National Bank of Ukraine sold more than $437 million from reserves in a week. The National Bank of Ukraine (NBU) sold more than $437 million from reserves in a week from August 22 to 26 and bought $7.3 million over the same period.

This was reported by the Ukrainian edition of Ekonomicheskaya Pravda with reference to the data of the regulator.

As the newspaper notes, since the beginning of August, the NBU has been selling significantly more currency from reserves than it acquires. So, in the first weeks of the month, the net sale of foreign currency amounted to 400-500 million dollars. The only exception was the previous week: during this period, the NBU, on the contrary, bought 76.37 million dollars more than it sold. Since the beginning of the year, the regulator has sold 16.6 billion dollars and 1.8 billion euros, and acquired only 3.1 billion dollars and 110 million euros.

The authors of the article explain that by selling currency from the reserves, the NBU is trying to contain the pressure on the foreign exchange market caused by the issue of the hryvnia, as well as to balance the markets of exporters and importers to maintain a fixed hryvnia exchange rate.

At the end of July, the National Bank of Ukraine banned exchangers from displaying a scoreboard with the exchange rate outside the cash registers. Information about the exchange rate can be placed exclusively in the cash desks of institutions and their structural divisions. Non-bank financial institutions are prohibited from informing about the course.