The National Bank of Ukraine believes that the fall of the US dollar against the hryvnia on the cash currency market as well as on the inter-bank currency market is temporary, and it is forecasting that it will soon stabilize.
The National Bank of Ukraine's First Deputy Chairman Anatolii Shapovalov announced this to journalists.
"It is not a trend. It is an episode. Therefore, we did not participate [in trading on the inter-bank currency market]. I think that the cash rate [of the dollar] is also rising today. It has already gone up," he said.
Shapovalov stressed that the situation on the inter-bank currency market in the past few days was characterized by small demand for hard currency, but he added that the situation was changing and that demand and supply were becoming more balanced.
"The volume of purchase [on the inter-bank currency market] was significantly lower [than usual]. It increased by 80 million yesterday, and the average exchange rate was already 4.9660 [UAH/USD] and trading ended at the exchange rate of 4.99-5.00 [UAH/USD]. The exchange rate has entered the corridor," he said.
As Ukrainian News earlier reported, the National Bank of Ukraine has not conducted interventions on the inter-bank market in the past several days despite the fact that the supply of hard currency exceeded the demand for it on the market.
As a result, the hryvnia exchange rate rose to 4.9000 UAH/USD.
The National Bank of Ukraine has preserved its official exchange rate at 5.0500 UAH/USD.
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