NBU in April acquired 676 million U.S. dollars to replenish international reserves

НБУ в апреле приобрел 676 млн долларов США для пополнения международных резервов

The national Bank of Ukraine in April 2016, acquired 676 million U.S. dollars to smooth excessive fluctuations in the currency market and the replenishment of international reserves. About it reports a press-service of the NBU.

In particular, during the month there have been 13 foreign exchange auctions during which net purchase of foreign currency amounted to 528,6 million dollars. USA.

“Just in the last week of the month – four of the auction for a net purchase of $ 275.1 million. USA. Even 147.4 million dollars. United States national Bank acquired during the intervention April 7, 2016 to Exercise the purchase of foreign currency allowed the excess supply of foreign currency over demand for it. This was due to the resumption of growth in prices on world commodity markets since mid-February, which led to the increase of currency proceeds on the interbank market”, – stated in the message.

News on topic: About foreign exchange reserves, or Why the national Bank is not able to keep the hryvnia exchange rate

So, in annual terms the price of steel increased by 16%, iron ore prices by 6%.

“The conduct of operations on purchase of currency is not an indication that the Bank targets a certain level of the hryvnia. The national Bank continues to follow a flexible exchange rate regime, which smooths out excessive exchange rate fluctuations, but does not preclude the movement due to fundamental market factors. This is evidenced by the fact that the official rate of hryvnia since the beginning of April rose by 3.9% to 25.19 per dollar, despite the purchase of foreign currency by the NBU,” – said the Agency.

Related news: the NBU In the first quarter of the year the volume of international reserves of Ukraine decreased by 4.4%

We will remind, the world Bank confirmed the growth forecast for Ukraine’s real GDP in 2016 at 1%.