Exchange rates – National Bank explained the fall of the hryvnia



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The regulator reported that the dollar jump was not caused by any separate factors

Photo: NBU press center

National Bank explained the sharp fall in the hryvnia

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The regulator reported that the dollar jump was not caused by any separate factors

The weakening of the hryvnia against the dollar was triggered by the fact that banks' currency demand last week (March 11-15) exceeded supply. This was reported by "RBC-Ukraine" in the press service of the National Bank of Ukraine (NBU).

The regulator assured that the dollar jump was not caused by any separate factor, but reflected the balance of demand and supply under the influence of several factors.

To ease fluctuations, the NBU came out with interventions in the interbank foreign exchange market and sold about $ 100 million for the specified period.

According to the regulator, in March in the spot market there is a tendency to increase the demand for currency of the population.

"Despite a certain increase in the population's demand for money in March, total net currency sales by the population since the beginning of the year total more than $ 170 million," he added. said in a message.

At the same time, the NBU noted that the situation in the non-cash market is the opposite – the net purchase of currency by the regulator since the beginning of the year amounted to about $ 600 million.

The National Bank stressed that they do not give forecasts on the dynamics of the hryvnia exchange rate, and added that the regulator will enter the interbank foreign exchange market by selling or buying foreign currency to replenish international reserves.

Remember, as of March 19 the official exchange rate of the dollar is 27.13 hryvnia. Compared to the value of March 15, the "green" rate increased in another 12 kopecks, after a rise of 29 kopecks.

According to the base scenario of the three-year budget resolution in 2019, the average annual hryvnia rate is projected at 30.5 hryvnia per dollar, and by 2020 – 31 hryvnia per dollar. But in the budget for 2019, calculations were made based on 29.4 hryvnia per dollar. At the same time, the Ministry of Finance and the National Bank of Ukraine repeatedly assured that the course "budget" is not a forecast, therefore, it should be taken only as a technical indicator for calculations in order to create an "airbag."

Previously, analysts predicted how the course could change over the course of 2019:

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