Fighting a strengthening hryvnia, the central bank bought $136 million on the interbank foreign exchange market last week – more than four times the $32 million bought the previous week. So far this year, the National Bank of Ukraine has purchased a net $1 billion to prevent the hryvnia from overvaluing against the dolla... #HryvniaStrengthening #HryvniavsDollar #NBUkeepsHryvniastable #StableHrynia
With the hryvnia flirting with strengthening above 27 to the dollar, the central bank intervened last week, buying $375 million in foreign exchange. This was almost 10 times the amount bought by the National Bank of Ukraine in the first week of June. On the supply side, high commodity prices – notably iron and grain – are flooding Ukraine with dol... #DollarvsHryvnia #HryvniaStrengthening #NBUbuysDollars