NBU Reduces Net Currency Sales on Interbank Market by 9.3% to USD 472 Million from July 3-7

The National Bank of Ukraine (NBU) has reported a 9.3% decrease in net foreign currency sales on the interbank foreign exchange market for the period of July 3 to 7. According to NBU data, the net sales amounted to USD 471.85 million, down from the previous week.

During this reporting week, the NBU purchased USD 6.66 million while selling USD 478.51 million. There were no purchases or sales of euros recorded during the same period.

Since the beginning of the year, the NBU has bought USD 184.56 million and sold USD 12,934.37 million on the interbank market. Similarly, no euro transactions have been recorded by the NBU this year.

In 2022, the NBU purchased USD 3,267.95 million and EUR 110.97 million while selling USD 26,380.59 million and EUR 1,789.11 million on the interbank market. In 2021, the NBU bought USD 3,690.7 million and sold USD 1,275.7 million. In 2020, the NBU bought USD 4,929 million and sold USD 3,891 million on the interbank foreign exchange market.

On July 21, the NBU adjusted the official exchange rate of the hryvnia by 25%, setting it at 36.5686 UAH/USD. As of August 6, 2022, the NBU lifted the restriction requiring banks and non-banking institutions to buy cash currency from the public at no lower than the official rate. Banks were allowed to sell more currency to the public.

Starting from September 6, the amount of cash currency banks can offer to the public includes the entire amount of non-cash currency purchased by the bank since April 13, 2022, rather than just half of it.