The dollar exchange rate in Ukraine has recently stabilized, hovering around the 41.5 hryvnia mark. The National Bank of Ukraine (NBU) intends to avoid rushing into devaluing the hryvnia in the coming months, as noted in the weekly review by the investment company ICU.
This is reported by Finway
According to the review, last week the NBU was forced to meet the temporarily increased demand for currency, resulting in interventions rising by a third, reaching 846 million dollars.
“It is quite possible that by the end of the month and the quarter, companies have intensified their currency purchases to pay dividends and/or interest on foreign loans,” analysts believe.
The increase in the volume of interventions allowed the NBU to even strengthen the official hryvnia exchange rate by 0.1% to 41.49 UAH per dollar. The cash value of the dollar in systemically important banks remained at the level of 41.2–41.8 UAH per dollar by the end of the week.
“The actions of the NBU show that the regulator aims to keep the official exchange rate close to 41.5 UAH per dollar, even despite the sharp and significant increase in currency purchases on the interbank market,” the investment company ICU notes.
According to analysts, the NBU can currently continue to postpone the transition to a gradual weakening of the hryvnia exchange rate, demonstrating prolonged exchange rate stability.
“Moreover, the planned increase in international financial assistance in 2025, as outlined in the IMF memorandum, may provide the NBU with additional arguments to avoid hastening the weakening of the hryvnia in the coming months,” the review states.