The national Bank has bought almost $700 million in reserves

Нацбанк купил почти $700 миллионов в резервы

The national Bank replenished reserves

In April, the hryvnia has strengthened by 3.9%, according to the financial regulator.

The national Bank in April bought the currency market $676 million to replenish international reserves due to strengthening of the hryvnia, stated in the message NBU.

“To purchase foreign currency allowing 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 in receipts of currency in the interbank market”, – said the national Bank, noting that in particular, in annual terms the price of steel increased by 16%, iron ore by 6%.

According to NBU, in April there have been 13 foreign exchange auctions during which net purchase of foreign currency amounted to $528,6 million during the last week of the month – $and 275.1 million in addition, the national Bank purchased $147,4 million on April 7.

However, the national Bank stressed that this does not mean that it targets a particular rate of the hryvnia.

“The national Bank prdolzhaet to stick to a flexible exchange rate, which smooths out excessive fluctuations, but does not oppose the movement of course, determined by fundamental market factors,” the report says.

According to the NBU official exchange rate of hryvnia since the beginning of April rose by 3.9% – to UAH of 25.19/$1.

As earlier reported, the NBU has lowered its forecast for the filling of gold and currency reserves to $18.7 billion from $19.6 billion.

We will note, as at 1 April foreign exchange reserves were $ 12,722 billion dollars, losing over a month of almost 770 million.