: :inin Kyiv (EET)

The National Bank of Ukraine sold up to $100 mln to maintain the hryvnia exchange rate

The National Bank of Ukraine on its official website reports that in the foreign exchange auction on December 28, 2016 sold $96.8 million to the Ukrainian banks.

The Head of the Department of public markets, the NBU Serhiy Ponomarenko said:

“On the interbank market continues to experience a temporary excess demand for foreign currency, which was formed under the influence of situational factors”.

“The supply of currency, which yesterday was limited due to the Christmas holiday in the US and Europe, today partially restored. But it is not sufficient because of VAT refund, which the exporting companies received the last and current week, holding back their needs in hryvnia liquidity, and, consequently, the sale of their foreign exchange earnings,”stated Ponomarenko.

The total volume of received applications for participation in the auction amounted to $120 million, while the weighted average auction rate was at UAH 26.8892 to the dollar.

According to the NBU, the hryvnia`s average exchange rate on the interbank market as of 14:00 was set at UAH 26.88 to the dollar, while market participants concluded 262 deals worth $127.34 million.


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