The decision of the National Bank of Ukraine (NBU) to conduct yesterday, 31 August, the auction for the sale of currency caused by temporary excess demand for foreign currency over supply and, consequently, increasing volatility in the foreign exchange market. This NBU reported on its official website.
“Thus, the national Bank adheres to the policy of smoothing excessive fluctuations in the currency market. This means that even with a floating exchange rate, the NBU responds promptly to the needs of the market”, – notes the regulator.
Yesterday the national Bank sold financial institutions of $44,3 million at the rate of 25,68 UAH/USD. NBU for the first time in two months has entered the market with dollar sales.
Earlier, the auction for the sale of currency took place on 10 February. The regulator sold $26.9 million at the exchange rate of UAH to 27,231.
Yesterday the NBU also reported that revenues from exports to Ukraine in recent months continued to grow.