NBU lowers official hryvnia exchange rate by another 1.2%, prevents hryvnia from further devaluation with interventions

17:34, 02.10.2019 1 min read

The National Bank of Ukraine (NBU) on October 2 set the official hryvnia exchange rate at UAH 24.859769/$1 compared with UAH 24.555302/$1, which was set the day before.

Over three days, the hryvnia has already devalued by 3.2%, returning to the mid-September level.

Market participants note that a further devaluation of the national currency in the interbank market was prevented by the interventions of the National Bank, the volume of which is estimated at $150 million or even more.

In the cash market, the hryvnia has fallen even more, to UAH 25.7-25.8 per $1, which means a 6.5% drop in a few days, and spreads between purchase and sale rates have widened significantly, reflecting the uncertainty of participants in this market.