NBU explains the reduction of the hryvnia to the escalation in the Crimea

НБУ объясняет снижение гривны обострением в Крыму

The national Bank spoke about the reasons for the fall of the hryvnia

The course also affects the situation in the ATO zone and the seasonal rise in demand.

The national Bank of Ukraine explains a high volatility of the hryvnia on the interbank market to the deteriorating situation in Crimea and the East of the country, a seasonal increase of demand for foreign currency, a correction in grain prices. This is stated in a statement on Wednesday, the press service of the NBU comments.

As noted in the message, along with the above mentioned factors is observed a temporary increase in the purchases of foreign currency by Ukrainian companies for the payment of obligations in foreign currency at the end of the month.

We will remind, in August the hryvnia began to fall sharply, losing over a few weeks more of the hryvnia.

On 10 August, the FSB said that the defense Ministry of Ukraine allegedly was sent to the Crimea several groups of saboteurs to carry out terrorist acts. During the fighting on 7 and 8 August, as stated by Russian security forces killed a member of the FSB and the military.

Then Putin accused Ukraine’s transition to the terror and promised retaliation. He also said that the talks in Normandy format are meaningless now.

The national Bank decided to support the falling hryvnia