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Last week, the National Bank of Ukraine made a record sale of foreign currency on the interbank market over the past six months. According to the regulator’s data released on Monday, 16 December, the NBU sold $1.075 billion over five business days, up by a third from the previous week ($785 million).
Record sales in 2024
Last week’s figure was the second largest sale of foreign currency in 2024. The absolute maximum was recorded at the end of May, when the NBU sold $1.091 billion.
In total, since the beginning of the year, the NBU has sold over $31.5 billion on the interbank market, while foreign currency purchases have amounted to only $125.8 million. Last week, the regulator purchased only $100,000.
The active sale of foreign currency by the NBU indicates a strong demand for the dollar in the Ukrainian financial system. This situation may be caused by rising import costs, the need to finance critical imports, and the pressure on the hryvnia in wartime.
Continuation of such dynamics may affect the country’s foreign exchange reserves and the exchange rate stability of the hryvnia. In the current situation, the NBU’s actions are key to maintaining economic stability in a highly turbulent environment.
