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National Bank wants to avoid hryvnia hike, buys $700 million in one day

Source : 112 Ukraine

In total, it has announced an auction for the purchase of foreign currency in the amount of up to one billion dollars
15:23, 27 December 2019

National Bank of Ukraine

National Bank of Ukraine (NBU) purchased 700 million dollars on December 26, in order to avoid hryvnia hike. It was stated by the press service of the financial regulator on Facebook.

“As a result of the day, National Bank’s net purchase of currency amounted to 700 million dollars, because NBU conducted a single course intervention through the functionality of Matching after the auction ended," NBU stated.

In total, National Bank has announced an auction for the purchase of foreign currency in the amount of up to one billion dollars, given the risks of excessive hryvnia fluctuations towards strengthening and limited market opportunities for self-balancing.

Related: Ukraine pays out 1.1 billion dollars on Eurobonds, - National Bank

Since the beginning of the year, NBU’s net purchases of currency have amounted to 7,5 billion dollars.

As we reported earlier, the signing of the new program with the International Monetary Fund (IMF) will not take place in 2019. However, the National Bank of Ukraine (NBU) expects that it will take place in the first quarter of 2020, as Head of the NBU Yakiv Smoliy stated.

“We do not expect the decision on the signing of the program this year; it will not take place. But, according to the schedule, the session may take place in the first quarter of the next year,” he said.

Related: Ukraine-IMF cooperation: Myths and reality

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