The First Deputy Governor of the National Bank of Ukraine, Serhiy Nikolaychuk, has provided detailed insights into the current state of foreign exchange (FX) demand in the country. According to him, the net household demand for foreign currency showed a modest increase in the June–July period, reaching $270–280 million, compared to $250 million in May. This rise, while within the statistical error margin, serves as confirmation of the National Bank’s successful policy in sustaining the appeal of hryvnia assets and ensuring relative stability in the currency market.
Despite this incremental growth, the demand level remains significantly lower than the $1 billion per month witnessed in the early months of this year and last year. Nikolaychuk explained that this reduction is attributed to the effective measures taken by the NBU to stabilize the currency and manage the FX market. These measures include interest rate adjustments, exchange rate interventions, and promoting the domestic currency through various economic initiatives.
The National Bank of Ukraine’s focus on maintaining the hryvnia’s appeal is crucial for the country’s economic resilience, especially in the context of ongoing geopolitical tensions and the impact of global economic conditions. The recent figures suggest a gradual shift in currency demand patterns, which could have long-term implications for Ukraine’s monetary policy and exchange market dynamics. As such, the NBU’s strategy remains a key factor in shaping the country’s financial landscape.