Reflecting shifting views on the hryvnia, the National Bank of Ukraine sold almost $500 million in July, after buying $1.15 billion in June. In early July, President Zelenskiy and leaders of his party started talking down the hryvnia, calling for a gradual 10% devaluation to 30 to the dollar. This year’s national budget is based on an annual rate of 29.5 hryvnia/$1. Today, the official rates is 27.67 hryvnia / $1.
Reflecting shifting views on the hryvnia, the National Bank of Ukraine sold almost $500 million in July, after buying $1.15 billion in June.
