This decision should increase supply in the cash segment of the foreign exchange market and affect the weakening of devaluation pressure, the regulator believes.
The National Bank of Ukraine allowed banks to sell in the cash segment half of the non-cash currency purchased from citizens from April 13, 2022. These volumes will be additional to the sale of cash currency purchased from the same date, according to the regulator’s website on Wednesday, July 27.
“The corresponding decision should increase the supply in the cash segment of the foreign exchange market and, as a result, affect the weakening of the devaluation pressure. At the same time, the additional pressure on the international reserves of the NBU due to the use of this permit of banks will be moderated and regulated,” the report said.
As you know, since April 14, the National Bank has allowed banks to sell cash foreign currency to the population. But then financial institutions can only sell the money they previously bought from the population.
Recall that on July 21, for the first time since the beginning of the war, the NBU raised the dollar against the Hryvnia – immediately by 25% to UAH 36.57 / dollar. Correspondent.net Imagine what awaits Ukrainians after such a decision by the financial regulator.
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Source: korrespondent
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