Ukraine’s central bank sells over $410 million from reserves in a week

7 November 2022, 12:27 PM
NBU sells over $410 million from reserves (Photo:NBU press center)

NBU sells over $410 million from reserves (Photo:NBU press center)

Ukraine’s central bank the National Bank of Ukraine (NBU) sold $410.24 million and bought $16.3 million on the interbank foreign exchange market from Oct. 31 to Nov. 4, according to currency interventions published on the regulator’s website.

The NBU sold $227.59 million last week, while $576.37 million were sold the week before.

The regulator has been forced to sell about $1 billion of reserves every week since late May to counter instability on the interbank market.

The situation has stabilized after the hryvnia exchange rate was adjusted by 25% to UAH 36.6 per dollar, and weekly currency sales did not exceed $500 million.

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The NBU has bought $3.18 billion and EUR 110.97 million and sold $21.93 billion and EUR 1.789 billion since the beginning of 2022.

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