The National Bank of Ukraine (NBU) will maintain an active presence in the foreign exchange market to meet structural demand and smooth out exchange rate fluctuations.
This is stated in the message of the NBU, Ukrainian News Agency reports.
The structural deficit of the currency will remain in the future in view of the consequences of the war.
Accordingly, this will require the NBU to actively participate in the foreign exchange market - both to meet the structural demand for currency and to smooth out significant exchange rate fluctuations.
As appropriate macroeconomic conditions are formed, the NBU will gradually increase the flexibility of the exchange rate and strengthen its role as a means of adapting the economy to external and internal shocks.
Also, the NBU will continue to take measures to maintain the attractiveness of hryvnia instruments for savings: deposits and government domestic loan bonds.
This will limit the demand for foreign currency and, together with foreign exchange interventions, will contribute to the maintenance of exchange rate stability.
This policy will make it possible to keep inflation at a moderate level next year as well.
The level of international reserves remains sufficient to maintain exchange rate stability.
At the end of November, the NBU's international reserves amounted to about USD 39 billion.
In recent months, they have decreased insignificantly, despite the less rhythmic flow of external financing.
The current volume of reserves is significantly higher compared to both the beginning of this year and the period before the full-scale invasion of russia.
As Ukrainian News Agency earlier reported, the National Bank of Ukraine adjusted the official exchange rate of the hryvnia by 25% to 36.5686 UAH/USD on July 21.
From August 6, 2022, the National Bank canceled the restriction, according to which banks and non-banking institutions had to buy cash currency from the population at a rate no lower than the official one.
The National Bank allowed banks to sell more currency to the public.
The National Bank has been implementing managed exchange rate flexibility since October 3.
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