The national Bank sees no reasons for the collapse of the hryvnia
The Central Bank insists on the absence of fundamental reasons for the depreciation of the national currency.
The currency demand from the major export sectors of Ukraine, including mining and agriculture, remains at a high level, indicating the absence of fundamental reasons for the depreciation of the hryvnia. This is stated in comments of the National Bank on Friday, August 17.
According to estimates by the regulator, the growth in demand for foreign currency due to seasonal, situational and psychological factors. Among these factors – seasonal demand for currency from importers of energy resources and consumer goods. In addition, the decreased supply of foreign currency from the population under the influence of traditional negative expectations before the fall.
The national Bank has assured that it continues to closely monitor developments in the foreign exchange market and willing to carry out currency interventions if necessary to prevent sudden “jumps” of the course.
“The task of the National Bank to keep the hryvnia at a certain level, and to reduce the intensity of fluctuations of the hryvnia exchange rate and hence to prevent the deterioration of expectations and the formation of risks for reducing inflation to the goal,” – said in comments.
Also, the national Bank reminded that this week went daily to the market with the sale of currency and just last week sold $ 215 million, including $ 24.8 million during the currency auction on Friday, through which the demand for foreign currency was satisfied, says the Central Bank.
Moreover, the NBU continues to monitor closely the situation on the currency market and is willing to continue to carry out currency interventions, if necessary.
Also, the report notes that the Central Bank under flexible exchange rate regime smoothes only the significant fluctuations that occur due to situational factors.
“If the factors in the economy that require attenuation or gain of course, it needs to move in the right direction, and the NBU this movement does not oppose. The task of the Central Bank – not to keep the hryvnia at a certain level, and reduce the intensity of its vibrations and hence prevent the deterioration of expectations and the risks to achieving the inflation target”, – stated in the message.
We will note, on Monday, August 20, the national Bank set the hryvnia to the dollar at 27,89, omitting the Ukrainian currency 22 cents. Thus, the NBU weakened 22 cents official exchange rate of hryvnia for the second consecutive day.
Meanwhile, on the morning of the exchange offices of Kiev has increased the selling rate of the dollar on 23 kopecks to 27.99 per dollar, the buying rate – by 20.22 COP. to 27.60 per dollar. And in the evening some exchange offices the selling rate increased up to 28.50 per dollar.
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