In August 2025, the National Bank of Ukraine significantly reduced the volume of currency sales on the interbank market. Over the month, the regulator sold 2.696 billion dollars, which is 21.5% less compared to July, when 3.436 billion dollars were sold. The decrease in interventions occurred after a three-month period of increasing currency sales.
This is reported by Finway
Structural Currency Deficit and International Assistance
The reduction in dollar sales indicates a decrease in the structural currency deficit in the market. Since the beginning of 2025, the National Bank has sold 23.676 billion dollars on the interbank market. During this period, Ukraine received international assistance totaling 29.5 billion dollars, which exceeds the volume of the regulator’s currency interventions.
“According to the NBU’s forecast, external financing will amount to 54 billion dollars this year, which will cover expenses in the currency market. The IMF predicts that financing will be 53.6 billion dollars (excluding the fund’s own tranches)”.
Dynamics of the Dollar Exchange Rate on the Interbank and Cash Markets
The situation with the dollar exchange rate in the Ukrainian market in August is characterized by stabilization and a gradual decline. The official exchange rate of the dollar set by the National Bank decreased by 50 kopecks over the month and by the end of August stood at 41.26 hryvnias per dollar. This is lower than the figure at the end of 2024, when the rate was 42.03 UAH/USD.
In the cash currency market, the exchange rate also showed a decline — in August it fell by 40 kopecks to 41.50 UAH/USD. The dynamics of the exchange rate in the cash market remains entirely dependent on the situation in the interbank market, where funds from international assistance flow, which the National Bank redistributes through currency interventions.
The regulator responds promptly to market changes, adjusting the official exchange rate and the intervention rate, which helps maintain balance in the country’s currency market.