The NBU has reduced dollar sales from reserves to support the hryvnia's exchange rate.

The National Bank of Ukraine sold $2.732 billion on the interbank foreign exchange market in November 2024, which is 20.3% less than in October ($3.428 billion).

This is reported by RBK-Ukraine citing data from NBU.

Since the beginning of the year, the NBU has sold $29.538 billion on the interbank market.

In November, Ukraine received $6.5 billion in international aid to cover the budget deficit, including $4.8 billion from the United States.

Since the start of the year, aid has reached $32.4 billion. As a result, the NBU's expenditures to support the hryvnia exchange rate have exceeded the assistance provided to Kyiv. In November, Ukraine's international reserves are expected to increase.

According to the NBU's forecast, aid will reach $41.5 billion and will be significantly less than the NBU's interventions on the interbank market.

Dollar Exchange Rate in November

The cash market is stabilizing due to the currency sales by the National Bank. The NBU responds to market conditions by raising or lowering the intervention rate. At the end of trading, the central bank sets the official exchange rate.

The NBU maintained a relatively stable dollar exchange rate for four months. However, at the end of November, the dollar's rate hit new highs twice. The record value was recorded on November 28 - 41.60 UAH/dollar.

As a result, in November, the dollar rate increased by 0.8% - from 41.27 UAH/dollar to 41.59 UAH/dollar. Since the beginning of the year, the rate has risen by 9.5% (from 37.98 as of December 31, 2023).

The rate on the cash market is entirely dependent on the interbank market. Over the month, the rate increased by 35 kopecks to 41.85 UAH/dollar.

In 2023, the NBU sold $28.610 billion to maintain market balance, which is $3.657 billion more than in 2022.

In 2023, these expenditures were more than compensated by international aid. According to the Ministry of Finance, Ukraine received $42.6 billion. In 2022, NBU sold $24.953 billion on the interbank market.