The National Bank continues to sell significant amounts of currency from its reserves.

During January 2023, the NBU bought $28.5M and sold $3.11B on the interbank foreign exchange market. The negative balance amounted to $3.082B, according to NBU data. Thus, the central bank slightly reduced the sale of foreign currency on an interbank basis compared with December 2022, when it sold $3.164B. Nevertheless, the volume still exceeds $3B, as in the summer of 2022, when the largest currency shortage was observed. At the same time, the regulator notes that interbank sales are fully covered by international aid. At most, according to January’s results, international reserves are expected to grow to $30B. In the last month of 2022, the NBU doubled their currency sales from reserves to $3.16B. In total, the regulator sold $24.95B for the year and set a record far greater than in previous years.