The NBU has more than doubled its reduction in expenses for supporting the hryvnia.

The demand for currency sharply decreased at the beginning of 2025. The National Bank reduced sales from reserves to cover the structural currency deficit.

This was reported by RBC-Ukraine referencing data from NBU.

During the week of December 30, 2024, to January 3, 2025, the NBU sold 744.10 million dollars on the interbank currency market. This is 2.2 times less than the record volume from the week prior, which was 1.625 billion dollars since the start of the war.

The demand for currency surged in December, with the NBU selling 5.284 billion dollars on the interbank currency market. This is the highest monthly volume in history.

In total, for the year 2024, the NBU sold 34.822 billion dollars on the interbank market. However, the volume of international aid to Ukraine for 2024 amounted to 41.7 billion dollars, which will cover the interventions on the interbank market.

Earlier, the NBU stated that the increase in budget expenditures at the end of the year is a traditional seasonal phenomenon. The NBU expects an increase in demand for currency and is prepared to compensate for the deficit.

Dollar Exchange Rate

The cash market is balancing due to currency sales by the National Bank. The NBU reacts to the market situation by raising or lowering the intervention rate. At the end of trading, the central bank establishes the official rate.

Last week, the dollar exchange rate rose again, reaching a historic maximum of 42.08 UAH/dollar. Over the week, the dollar increased in price by 16 kopecks.

The situation in the cash market is almost entirely dependent on the interbank market. Over the week, the dollar exchange rate in the cash market increased by 30 kopecks to 42.50 UAH/dollar.

Recall that in 2023, the NBU sold 28.610 billion dollars to maintain market balance, which is 3.657 billion dollars more than in 2022. In 2023, these expenses were more than compensated for by