During the week from July 3 to 7, the National Bank of Ukraine (NBU) sold USD 478.51 million and bought USD 6.7 million on the interbank foreign exchange market. This is evidenced by the data published on the official portal of the financial regulator.
According to currency intervention data, the National Bank sold USD 478.51 million on the interbank foreign exchange market during the week - slightly less than last week, when the volume of sales from reserves amounted to USD 532.97 million. At the same time, the regulator bought USD 6.7 million against the purchase of USD 12.6 million a week earlier.
Since late May 2022, the NBU has been forced to sell about USD 1 billion of reserves every week for interbank balancing. After the correction of the exchange rate by 25% to UAH 36.6 per dollar in mid-July, the situation stabilized, and weekly sales of the currency are kept within half a billion.
In total, since the beginning of the year, the NBU has already sold USD 12.93 billion and bought USD 184.56 million.
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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