Ukraine\u2019s international reserves could rise to approximately $70 billion in 2026, reaching an all-time high. Expected inflows of international aid are set to support the foreign exchange market, where the National Bank sells over $1 billion every week. At the same time, the regulator has raised the policy rate to 15.5% to curb inflationary pressures and maintain the attractiveness of hryvnia savings.<\/p>\n
Briefly about the main points<\/strong><\/p>\n Board of Directors The NBU has raised its policy rate to 15.5%<\/strong>. The regulator explained that the decision was driven by the need to step up efforts to counter persistent inflationary pressures.<\/p>\n Headline inflation slowed to 7.2% year-on-year in June. At the same time, core inflation, which better reflects underlying trends, accelerated to 8.1% and exceeded the regulator\u2019s forecast.<\/p>\n NBU<\/a> expects that by the end of 2026, headline inflation will stand at around 10% and core inflation at 9.2%. The Governor of the National Bank Andriy Pyshnyy<\/strong> stated that a higher interest rate should curb inflation and maintain the attractiveness of savings in hryvnia.<\/p>\n It is estimated that international financial assistance to Ukraine in 2026 could amount to around $54 billion. Such inflows could increase international reserves to approximately $70 billion \u2014 the highest level in the history of independent Ukraine.<\/p>\n Substantial reserves provide the NBU with the resources it needs to conduct operations on the foreign exchange market. The regulator, on a weekly basis, sells on the interbank market<\/a> over $1 billion, offsetting the increased demand for foreign currency and limiting sharp exchange rate fluctuations.<\/p>\n Economists believe that there will be no sharp fluctuations in the dollar exchange rate in the near future. The hryvnia continues to be supported by foreign exchange reserves, international financing, a tighter monetary policy and controlled interventions.<\/p>\n\n
The rate rose due to core inflation<\/h2>\n
Aid replenishes reserves, whilst interventions stabilise the market<\/h2>\n
Inflationary and external risks persist<\/h2>\n