National Bank of Ukraine intensifies foreign exchange interventions: currency sales increase by a third in a week
Between August 4 and August 8, the National Bank of Ukraine significantly ramped up its currency operations on the interbank market, selling over 840 million US dollars during this period.
This figure marks one of the highest weekly levels in recent times and indicates the regulator’s strategic effort to influence the exchange rate and stabilize the country’s financial situation.
Compared to the previous week, sales volume surged by more than thirty percent, roughly 203 million dollars.
During this time, Ukraine spent a total of 21.6 billion dollars in currency sales, while purchases amounted to only about 37.76 million dollars — highlighting the country’s strong focus on stabilizing the hryvnia and curbing potential currency crises.
Official statistics show that in the first half of 2024, the National Bank sold over 35 billion dollars and bought minimal amounts—less than one billion.
This demonstrates an active monetary policy aimed at supporting the hryvnia and preventing devaluation.
The demand for cash dollars by the Ukrainian population declined sharply in the second quarter of 2024: from nearly two billion down to one hundred million dollars, reflecting significant changes in the currency market.
Experts note that this trend may impact the country’s exchange rate regime and indicate shifts in the behavior of Ukrainian consumers and businesses amid economic uncertainties.