The National Bank of Ukraine (NBU) has observed a slight increase in net household demand for foreign currency, reaching $270–280 million in June–July, up from $250 million in May. This modest rise falls within the statistical margin of error and aligns with the NBU’s policy objectives of maintaining the hryvnia’s appeal and ensuring stability in the currency market. First Deputy Governor Serhiy Nikolaychuk noted that this growth contrasts with earlier months when monthly demand reached as high as $1 billion, underscoring the effectiveness of the NBU’s measures.
The NBU’s strategy to stabilize the hryvnia has involved a combination of monetary policy tools, including interest rate adjustments and foreign exchange market interventions. According to Nikolaychuk, the recent data confirms that these efforts are yielding results, with the hryvnia’s value remaining relatively stable against major currencies like the US dollar. This stability is crucial for Ukraine’s economic recovery, as it helps reduce inflationary pressures and supports consumer and business confidence.
Despite the recent uptick in demand, the NBU remains cautious about potential volatility, particularly in light of ongoing geopolitical tensions and economic uncertainties. Nikolaychuk emphasized that the Central Bank is closely monitoring market dynamics and is prepared to adjust its policies as needed to safeguard the hryvnia’s value and the broader economic environment. The bank’s commitment to transparency and data-driven decision-making continues to play a vital role in maintaining investor trust and market stability.