Policy of the national Bank could change due to the appointment of a new head
Earlier policy of the NBU in the foreign exchange market was to smoothing of sharp fluctuations in either direction.
The national Bank of Ukraine during the working week 13-17 July did not intervene in the interbank foreign exchange market. This was the first time since the week of 17-21 September 2018. This is evidenced by data on the NBU website on Friday.
It is known that earlier the regulator’s policy on the foreign exchange market was to smoothing of sharp fluctuations in either direction.
In particular, during the week of 6 -10 July, the regulator bought on the interbank currency market of 92 million dollars. NBU resumed the purchase of currency after stabilization on the market after a sharp increase after the resignation of Yakov Smoliy.
However, the dollar went up again after July 16, the Verkhovna Rada appointed head of the NBU Kirill Shevchenko. The rate jumped to levels of the beginning of April – 27,40 hryvnia per dollar.
Since the beginning of the year, the NBU bought currency on the interbank market at 3 976,9 million dollars and sold 2 944,0 million dollars. Thus, the net purchase of foreign currency is 1 032,9 million dollars.
Yesterday it was reported that the business has made a pessimistic forecast for the hryvnia exchange rate. The dollar, according to forecasts of the majority of Ukrainian businessmen will be above 28 USD. Only a quarter of respondents expect a stable exchange rate.