The exchange rate responded to the improvement in the balance of supply and demand – from the beginning of the year it strengthened by 1.2%.
The situation in the Ukrainian foreign exchange market in January 2024 gradually improved as the effects of significant budget spending at the end of the year faded. The Deputy Head of the NBU Yuriy Heletiy spoke about it, the NBU press service reported on his Facebook page.
In the first half of January, the daily volume of interventions, although slightly reduced compared to the values of December, remained significant – at the level of $150 million. In the second half of the month it dropped to $80 million. The exchange rate responded to the improvement of the balance of supply and demand – since the beginning of this year it has strengthened by 1.2%, the official explained.
According to him, the existing volume of international reserves allows the NBU to continue to ensure the stability of the exchange rate.
NBU Head Andriy Pyshny noted that the main assumptions of the base scenario of the updated macro forecast of the NBU:
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reducing security risks from 2025;
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maintaining an adequate amount of international funding.
“Ukraine has lived for a month in the conditions of disruption of the rhythm of international aid thanks to the existing internal resources. We managed to keep the situation under control and avoid financing the emission of the budget. We will continue to do everything possible to maintain macro-financial stability. At the same time, as the war continues, international assistance will continue to be needed,” concluded the head of the National Bank.
As already reported, the amount of cash foreign currency imported by Ukrainian banks in December 2023 reached $1 billion 330 million. This is the highest volume since February 2014 ($3 billion 208 million).
In addition, in Ukraine, the amount of cash outside banks increased by $11.8 billion in 2023. This is more than in 2022 ($10.1 billion).
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.