Exchange points caused the growth of currency rates, therefore, they were forbidden to hang out on scoreboards with rates.
The National Bank imposed restrictions on the operation of currency exchange offices due to the fact that they stimulated the growth of the dollar. This is how the central bank explained the ban on exchangers to hang out on a scoreboard with rates
According to the head of the NBU financial consumer rights protection department, Olga Lobaichuk, supply and demand stabilized in the non-cash segment of the foreign exchange market after the fixed rate increased by 25% to UAH 36.6 per dollar. And in the cash market, the rate has grown significantly.
“The permanent increase in the exchange rate of non-bank institutions in the currency part of the foreign exchange market in the past week may indicate an attempt to cash in on the panic mood of the population, which itself provoked increase in the exchange rate. , sometimes several times a day. That is why the NBU is strengthening the supervision of these institutions,” it said. in the message.
The NBU says that the set of actions they adopted will help reduce the speculative component in the foreign exchange market.
According to the financial regulator, the absence of a scoreboard “at every step” will prevent the population from being aggressively pushed to use financial services they may not really need.
“Consequently, the appropriate decision should reduce the influence of the psychological factor on the exchange rate, and therefore help reduce market fluctuations. And the set of measures introduced will contribute to a more responsible participation of non-banking financial institutions in the foreign exchange market,” said the NBU.
Recall that since July 21, when the National Bank decided to raise the official rate of the dollar by 25% to UAH 36.5, the US currency in the cash market has increased in price by about UAH 4.
On Friday, the NBU blamed exchangers for the dollar’s rise and banned them from posting scoreboards with exchange rates.
At the end of the week, the cash exchange rate of the dollar decreased by approximately 1.5 hryvnia.
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Source: korrespondent
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