Ukrainian interbank currency market experienced a downturn as the hryvnia continued to depreciate due to significant demand for foreign currency. At the start of trading, the U.S. dollar exchange rate opened at 40.39–40.41 UAH and closed at 40.45–40.47 UAH per dollar. In the cash market, the dollar rate also showed growth, reaching 40.65–40.75 UAH. Meanwhile, the euro fluctuated in the range of 43.90–44.05 UAH. This was reported by Baltimore Chronicle, with reference to NBU.
Experts attribute the current situation to increased currency demand from importers and the intensified pace of purchases at the end of the month. In response, the National Bank of Ukraine continues to carry out foreign exchange interventions in an effort to contain the excessive weakening of the national currency.
Analysts point to the traditionally rising volume of currency purchases at the end of each month, driven by the need for settlements under foreign economic contracts. This trend puts additional pressure on the foreign exchange market and affects the hryvnia’s position against the U.S. dollar and the euro.
Earlier we wrote that NBU to change cash accounting.