Governor of the National Bank of Ukraine (NBU) Andriy Pyshnyy explains the slight weakening of the hryvnia in recent days by seasonal factors.

"Currently, we are witnessing a process of seasonality that was already common in pre-war times for us, when at the end of the year the need for foreign currency increases. The expenses that accumulate throughout the year are being absorbed. Usually there is no time to realize them," he said during a press briefing on Thursday in Kyiv.

Pyshnyy emphasized that this is what the National Bank was striving for by switching to a regime of managed exchange rate flexibility - the return of the foreign exchange market to the normal regime.

"What we observe from the net demand side regarding non-cash transactions of clients: in October it amounted to $97 million, in November – $61 million, from the third ten days of November we have seen an increase. And in December the average figure is $70 million. The increase in demand determines the more active participation of the NBU on the market," Deputy Governor of the NBU Yuriy Heletiy said.