The average cash dollar selling rate in Ukraine rose to UAH 37.80 in August, the regulator said.
In August, the hryvnia fell against the dollar in the cash market due to seasonal factors, but the decision of the National Bank to allow the population to buy foreign currency online changed the situation. This is stated in the macroeconomic and monetary review of the NBU, published on Thursday, September 7.
It indicates that the main factors behind the slight weakening of the cash rate and the widening of the spread are:
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return of the seasonal factor – increased demand for foreign currency
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growth of the demand situation for cash due to the revocation of the license of a major player in the currency exchange market for systematic violations.
“At the same time, at the end of the month, the spread began to narrow again, in particular, thanks to the NBU’s permission to sell foreign currency online, and exchange rate expectations remain stable,” the analysis said.
According to the regulator, the average cash dollar selling rate in Ukraine increased by 1.4% in August to UAH 37.80.
At the same time, in mid-August, the dollar exchange rate increased by approximately one Hryvnia to the level of 38.60 Hryvnia. At the end of last month, the NBU allowed banks to sell non-cash money to the population in the amount of UAH 50,000 per month. This led to a noticeable increase in the hryvnia exchange rate. On August 6, exchange offices sold the dollar at an average of 37.85 hryvnia.
Recall that in August the NBU revoked the license of Finod LLC, the company with the largest network of currency exchange points in Ukraine.
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Source: korrespondent
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