On October 5, the National Bank of Ukraine reduced the volume of foreign currency sales on the interbank foreign exchange market. Nervousness after the transition to a regime of managed exchange rate flexibility will disappear in the coming days.
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This was announced by the head of the NBU Andrey Pyshny on Facebook following the results of the banking sector on Thursday.
The situation on the interbank market is normalizing: in the afternoon (October 5 – ed.) the hryvnia strengthened somewhat, and the NBU’s net interventions on the sale of currency were even lower than their average daily volume in September, before the introduction of managed exchange rate flexibility,” the head of the NBU wrote.
According to him, the National Bank even intervened to purchase foreign currency, “limiting, as promised, exchange rate fluctuations in both directions.”
We expect that nervousness in the market will finally disappear in the coming days, predicts Pyshny.
He said that the situation in the cash segment does not cause concern, the hryvnia has strengthened somewhat. The selling rate for cash hryvnia in non-bank financial institutions on the evening of October 4 was about 38.25 UAH/USD, as of October 5 it was 38.20 UAH/USD.
Let us recall that on October 3, the National Bank introduced a regime of managed exchange rate flexibility.
Source: Racurs
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