government regulation

NBU ready to sell currency from its reserves

NBU ready to sell currency from its reserves
Photo: Ivan Chernichkin

The National Bank of Ukraine is ready to sell foreign currency from its reserves until the situation on the foreign exchange market completely stabilizes, first deputy head of the National Bank Oleksandr Pysaruk has said.

"Interventions or auctions in the amounts we hold them today are sufficient, adequate. And we are able to maintain this rate of interventions for some time enough to calm the situation on the foreign exchange market," he told reporters.

"The unmet demand is significant. But in a month or two of this policy we will balance the demand and supply of foreign exchange," Pysaruk added.

According to him, the National Bank's interventions to support the hryvnia in the last two weeks will be about $560 million.

"Some stabilization, which we have achieved over a few last weeks, quiets sentiment," he said.

In his view, the stabilization of supply and demand could occur at the level close to UAH 13 per $1.

"Fluctuations are possible but they will not be significant," the banker said.

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