The National Bank of Ukraine (NBU) on Thursday bought $40 million at a currency auction, which is twice up the largest figures of September auctions.

The NBU said on its website that the average exchange rate to buy currency was the most beneficial over the whole period of holding auctions – UAH 21.148/$1, while in the last day of September the central bank bought $20 million at UAH 21.3111/$1.

Bids to sell $57.8 million at the exchange rates from UAH 21.1/$1 to UAH 21.5/$1 were submitted to the auction.

NBU said that 1.7% of all satisfied bids were closed at the stop-out price of UAH 21.18/$1.

As reported, the NBU started holding auctions to buy foreign currency in the amount of up to $10 million a day from banks from September 17, 2015, although at the fifth auction the amount of bought currency grew to $20 million. A total of 10 auctions were held in September where the NBU bought $143.7 million.

Every bank will be able to participate in the auctions. They will be able to submit several bids at various exchange rates, which the NBU could satisfy, starting from the lowest exchange rate to sell foreign currency. The regulator has the right to declare the auction a failure if the bankers present unacceptable offers.

The NBU said that since early 2015, the central bank bought $1.6 billion on the interbank currency market.