The National Bank of Ukraine (NBU) has reported a significant increase in its foreign exchange interventions last week, with a 33.6% rise in the volume of foreign currency sales to $906.6 million. This marks a notable shift in the central bank’s approach to managing the national currency, the hryvnia (UAH), amid ongoing market fluctuations.
The NBU’s decision to increase FX sales on the interbank market comes as part of its broader strategy to stabilize the hryvnia and mitigate pressures from the rising US dollar. Officials have emphasized that these measures are aimed at ensuring price stability and maintaining confidence in the local currency.
According to the latest data from the NBU’s website, the bank’s intervention activities have primarily focused on selling foreign currency, which reflects its commitment to maintaining a balanced exchange rate. Analysts suggest that the increase in FX sales may indicate a growing concern about the potential for inflationary pressures or currency appreciation in the near future.
The NBU’s actions are closely watched by investors and policymakers, as they play a key role in shaping the country’s economic outlook. Market participants are now closely monitoring the central bank’s next steps, as the continued management of the FX market will have significant implications for Ukraine’s economic stability in the coming months.