The National Bank of Ukraine intervened in the situation on the interbank foreign exchange market, preventing the dollar quotations from exceeding the mark of 44 hryvnias per unit of the American currency. At the same time, the regulator recorded a new historical minimum for the official exchange rate of the hryvnia against the dollar.
This is reported by Finway
Official Hryvnia Rate Drops Again
According to the National Bank’s resolution, as of March 6, the official dollar rate was set at 43 hryvnias 80.69 kopecks, which is 9 kopecks higher than the previous day. This marks the second consecutive update of the hryvnia’s minimum level this week. The previous minimum was recorded on March 4, when the rate was 43 hryvnias 45.48 kopecks per dollar.
Regulator’s Role in the Interbank Market
Trading on the interbank foreign exchange market on March 4 closed at 43 hryvnias 63 kopecks per US dollar, which is 29 kopecks lower compared to the session’s opening, according to Bloomberg information. Financial market analysts note that the National Bank of Ukraine is actively conducting currency interventions, selling currency to stabilize the situation in the market.
“The National Bank is actively selling currency on the interbank market, which is driving down the quotations,” analysts from the Minfin website noted at noon.
It is worth reminding that on October 3, 2023, the official dollar rate exited the fixed range for the first time since July 2022, when it had been maintained at the level of 36 hryvnias 57 kopecks per dollar for over 14 consecutive months.