The NBU spent over half a billion dollars: Will the hryvnia exchange rate rise next week.

Currency exchange rate situation over the past week

According to inkorr.com: During the past week, the National Bank of Ukraine maintained the exchange rate of the hryvnia at approximately 41.3 hryvnias per dollar. By the end of the week, this rate even rose by over 10 kopecks. There is a likelihood that the NBU will continue to support the exchange rate at these values, but over time it may allow for its weakening.

This week, the shortage of foreign currency in the market increased by approximately 30%, amounting to 390 million dollars. This happened due to a decrease in the currency supply, both on the interbank market and among private individuals. The NBU was forced to sell 551 million dollars from its reserves to stabilize the situation. This is already the fourth consecutive week that the volumes of interventions have remained below average levels since the beginning of the war.

Most likely, the NBU will keep the exchange rate of the hryvnia at the current level a little longer, but over time, it may allow for its weakening

In the first four days of the week, the exchange rate of the hryvnia fluctuated from 41.35 to 41.37 hryvnias per dollar, but by Friday the NBU allowed it to strengthen to 41.22 UAH/$. To achieve this result, 120 million dollars of reserves were spent. This exchange rate was last observed in August and became the highest level since April this year.

Over the past week, the NBU kept the exchange rate of the hryvnia stable, but spent significant funds from reserves to maintain the rate at the necessary level. At the same time, the market noted an increase in the shortage of foreign currency, which required interventions by the National Bank. Experts predict a possible weakening of the hryvnia in the future.

The further development of the situation with the hryvnia exchange rate will depend on the actions of the National Bank and the overall economic situation in the country. The increase in demand for currency in conditions of shortage may lead to changes in the regulator's policy. Experts' attention is focused on the upcoming decisions of the NBU and trends in the currency market that may affect the stability of the hryvnia.