The situation in the energy sector will affect the foreign exchange market – the central bank will have to increase interventions.
Russian attacks on the Ukrainian energy sector will hit the foreign exchange market and foreign exchange reserves. On Thursday, October 20, the Deputy Head of the National Bank Sergei Nikolaychuk spoke about it.
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Due to damage to energy systems, the regulator also did not improve the forecast for GDP for the fourth quarter of the year.
“We are forced to assume that during the winter there will be rolling blackouts across the country. We also understand that there are additional risks associated with these attacks. We have also moved on from the assumption that these attacks will not occur. -electricity exports, however, from the middle of the next will continue,” the official said.
This will also affect the Ukrainian currency market.
“This will affect the foreign exchange market – it will increase the need for NBU interventions and affect international reserves, but the situation remains under control and we will be able to keep the reserve level at a safe level,” added by Nikolaychuk.
As you know, restrictions have been introduced in some regions today to save electricity, but the rolling blackouts have not yet started.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.