National Bank Significantly Reduces Dollar Sales: Key Trends and Currency Outlook
In recent weeks, Ukraine's National Bank has demonstrated notable changes in its currency policy by substantially decreasing dollar sales. According to official data from the regulator, the net selling volume of foreign currency from reserves for the last working week, spanning from June 30 to July 4, amounted to only 660.9 million USD, compared to 874.4 million USD the week before. This represents a decrease of over 25%, indicating possible stabilization of the currency market or strategic shifts in the National Bank’s intervention policies. Furthermore, according to the provided data, only 0.2 million USD was purchased on the interbank market during this period, reflecting a reduced activity in foreign currency acquisition. Since the beginning of 2025, reports show that the total amount sold from reserves has reached approximately 17.74 billion USD, while purchases amounted to just 37.08 million USD. These figures highlight the Central Bank’s efforts to maintain exchange rate stability and to utilize reserves more cautiously. Regarding current exchange rates, the National Bank set the official hryvnia-to-USD rate on Monday, July 7, at 41.73 UAH/USD, and the euro rate at 49.12 UAH/EUR. Analysts note that the main factor influencing the euro's strength against the hryvnia is the US dollar's depreciation compared to other currencies, a trend driven in part by domestic and international political developments, especially following Donald Trump’s election as US president, which has caused fluctuations in global currency markets and policy adjustments.