During the week of February 6-10, the National Bank of Ukraine (NBU) sold USD 679.25 million from reserves and bought USD 7.7 million, according to NBU data published on the official portal of the financial regulator.
Last week, the regulator sold USD 782.57 million on the interbank foreign exchange market, and USD 667.23 million a week earlier. At the same time, the NBU bought USD 15.95 million over the past three weeks.
From late May 2022, the NBU was forced to sell about USD 1 billion of reserves every week for interbank balancing. After the exchange rate was corrected by 25% to UAH 36.6 per dollar in mid-July, the situation stabilized, and weekly sales of the currency did not exceed half a billion.
In total, since the beginning of the year, the NBU has already sold USD 4.193 billion.
The NBU uses the sale of foreign currency from reserves in particular to curb the pressure on the foreign exchange market caused by the hryvnia issue. It also sells currency to balance the market of exporters and importers in order to maintain a fixed exchange rate.
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