The National Bank sold more than 1 billion dollars to support the hryvnia exchange rate. This was reported by the Ministry of Finance. However, despite these measures, the hryvnia continues to depreciate.
Selling foreign currency to stabilise the exchange rate
According to the Ministry of Finance, the National Bank sold more than $1 billion of foreign currency reserves during the week. These actions are aimed at supporting the hryvnia exchange rate and preventing a sharp fall in the national currency.
In fact, the hryvnia is being artificially supported by foreign exchange reserves. This is confirmed by the regulator's statistics.
Dynamics of the hryvnia exchange rate
Despite the significant volume of foreign currency sales, the hryvnia continues to fall. National Bank statistics show the following depreciation of the national currency.
The Ministry of Finance and the National Bank published detailed data on the volume of interventions and their impact on the exchange rate.
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