The national Bank explained what was happening with the hryvnia on the currency market
In recent weeks UAH is actively strengthened in the official exchange rate of the national Bank and the dollar and the Euro, respectively, cheaper. The NBU explained by the fact that after the holidays, increased foreign exchange earnings.
“The strengthening of the hryvnia, which is observed in recent weeks, shows that the place is unfavorable seasonal factors, which dominated in December and January led to a temporary devaluation pressure on the hryvnia, has taken a more favorable factors, under whose influence the end of January on the interbank market increased the supply of foreign currency from customers reduction in demand”, – said the Deputy head of the NBU Oleg Churiy.
He called the main reasons due to which the hryvnia strengthened.
“First, the increased inflow of foreign currency from non-residents who participate in auctions of the Ministry of Finance on placement of government bonds in local currency. Since the beginning of year the volume of hryvnia government bonds in the portfolio of non-residents increased more than two times – from UAH 5.1 billion to UAH 12 bn. Second, reduced supply of foreign currency from the agricultural enterprises after its seasonal decline in January. Third, the high supply of foreign currency contributed to a continued favourable external environment for the steel industry. In addition, the state of the currency market was influenced by an improvement in devaluation expectations and an increase in the supply of foreign currency from clients in the cash segment of the currency market with the second half of January, the gradual strengthening of the hryvnia. In particular, the net supply of foreign currency on the spot market rose in January to 257 million dollars, which is the highest volume for the month of July 2017,” explained Cury.
Due to accelerating inflation the national Bank will impose tougher monetary policy
The UPS and downs of the hryvnia on the currency market, the NBU considered “natural”.
“The national Bank stressed that after the transition of Ukraine to a floating exchange rate of the hryvnia in 2015, such changes are a natural course for the currency market of Ukraine, which is characterized by a certain seasonality. Previous years suggest that the effect of temporary unfavourable factors in the beginning of the year is usually disappears for the rest of the year that we are now able to observe,” said Curi.
We will remind, today, February 14, the US dollar is 26,69 UAH, Euro 32,92 UAH. In the state budget for the 2018 laid a course of 29,3 USD for dollar in the past year laid 27,2 UAH.
The government announced such currency forecasts: the exchange rate of the hryvnia (average per year) in 2018 will amount to 29.3 UAH per dollar, in 2019 – 30.5 UAH per dollar in 2020 – 31 UAH per dollar.
Historical record of hryvnia against foreign currencies in the official exchange rate of the NBU: USD 26 February 2015, has reached the highest figure in 30.01 UAH, Euro set his record on January 26, 2018 – 35,66 UAH.
The U.S. dollar exchange rate from NBU
The Euro exchange rate from NBU
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