The NBU increased dollar sales to their highest level since the start of the war over the past week.
The demand for currency increased in December 2024. The National Bank raised sales from reserves to cover the structural currency deficit.
This was reported by RBK-Ukraine citing data from NBU.
During the week of December 23-27, 2024, the NBU sold 1.625 billion dollars on the interbank foreign exchange market. This is the highest volume since the beginning of the war.
Since the start of the year, the NBU has sold 34.4 billion dollars on the interbank market.
Previously, the NBU stated that the increase in budget expenditures at the end of the year is a traditional seasonal phenomenon. The NBU anticipates an increase in demand for currency and is prepared to compensate for the deficit.
The volume of international aid to Ukraine as of December 19 amounted to 38.7 billion dollars. According to the NBU's forecast, the total volume of aid will reach 41.5 billion dollars, which is less than the interventions in the interbank market.
Dollar Exchange Rate
The cash market is balancing through currency sales by the National Bank. The NBU responds to market conditions by raising or lowering intervention rates. At the end of trading, the central bank sets the official rate.
Last week, the dollar exchange rate rose again, reaching a historical maximum of 41.99 UAH/dollar. However, in the second half of the week, the NBU lowered the rate to 41.92 UAH/dollar. As a result, the rate increased by 7 kopecks. Since the beginning of the year, the dollar rate has risen by 10.4%.
The situation in the cash market almost entirely depends on the interbank market. Over the week, the dollar rate in the cash market increased by 10 kopecks to 42.20 UAH/dollar.
As a reminder, 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 by international aid. According to the Ministry of Finance, Ukraine received 42.6 billion dollars.