The National Bank of Ukraine (NBU) continues to actively intervene in the situation on the currency market, not buying currency for the second week in a row. According to statistics published by the regulator, during the week from August 19 to 23, the NBU sold 624.5 million dollars on the interbank market. This is a significant increase compared to the previous week, when the volume of currency sales was $105.9 million less.
Such actions of the National Bank indicate that the regulator continues to maintain the stability of the national currency and provide the necessary amount of currency to meet the needs of the market. Given the lack of currency purchases for two weeks in a row, it can be assumed that the NBU is trying to contain the pressure on the hryvnia, which arises due to the high demand for foreign currency. At the same time, it may be part of a larger strategy to regulate the currency market in the current economic situation.
The total volume of currency interventions of the National Bank since the beginning of the year remains significant. According to the regulator, since the beginning of 2024, the NBU has sold 19.64 billion dollars, which indicates the high activity of the central bank in the foreign exchange market. However, it is worth noting that currency purchases during this period amounted to only $118.6 million, which is significantly less compared to sales. This shows that the main task of the NBU remains the support of the national currency in the face of external and internal challenges.
The lack of currency purchases for the second week in a row may be an indicator of some tension in the currency market. Perhaps the National Bank is thus trying to reduce the pressure on reserves and ensure the stability of the hryvnia, which remains one of the key tasks of the government in the conditions of the ongoing war and economic difficulties. At the same time, it may also indicate an increased demand for the currency among market participants, which forces the regulator to take appropriate measures to prevent sharp fluctuations in the exchange rate.
Actions of the National Bank may also be related to forecasts of the economic situation in the country and on international markets. Taking into account the possible risks associated with geopolitical events, as well as the increase in the cost of energy resources, the NBU may consider it necessary to maintain its reserves for further intervention in the market in case of need. Thus, the NBU’s current policy is aimed at ensuring macroeconomic stability and protecting the national currency from excessive fluctuations.
In the future, such policies may continue if the economic situation remains tense. The regulator can choose a strategy of active intervention in the market or maintaining reserves for a longer period, depending on the development of the situation. However, it is important to note that such a policy also has its own risks, as the constant sale of currency can reduce the country’s reserves, which can affect its ability to respond to future challenges.
