The situation in the foreign exchange market is actively changing, but the Central Bank claims that it controls all processes related to the exchange rate.
The National Bank of Ukraine was prepared for the currency to begin to rise in price at the end of the year. That is why the regulator decided to release the rate, said NBU Deputy Chairman Sergei Nikolaychuk.
He noted that in October and the first half of November, a positive situation developed in the foreign exchange market, as the net volume of demand from business was at its lowest level for several months. While this situation contributed to the depreciation of the dollar, the Ukrainian hryvnia, on the contrary, strengthened.
“The situation began to emerge in the second half of November, and net demand continued to increase in December. We responded to this situation by increasing sales in the market. However, following the announced principles, we allowed the hryvnia to weaken even further.” said.
According to Nikolaychuk, the Central Bank knew that devaluation would occur.
“We announced that we will give the necessary reaction to the situation, that the exchange rate should fluctuate in both directions. We are trying to smooth out these fluctuations. At the same time, we allow the exchange rate to act as a certain corrective mechanism for both the foreign exchange market and macroeconomic processes,” emphasized Sergei Nikolaychuk .
Dollar exchange rate December 22
The Central Bank set the official dollar exchange rate at 37.59 hryvnia per dollar. At the same time, exchange rates at exchange offices have not changed much:
- purchase – 38.03 hryvnia per dollar;
- sales – 38.20 hryvnia per dollar.
By the way, the price of the dollar is increasing in Ukrainian banks on December 22:
- purchase – 37.60 hryvnia per dollar (+0.02);
- sales – 38.20 hryvnia (+0.10) per dollar.
We would like to add that since the end of July 2022, the Central Bank has controlled the official exchange rate of the national currency at the level of 36.5686 UAH to 1 US dollar.
Important
However, as of October 2, 2023, flexible exchange rates have been implemented in Ukraine. However, the situation in the foreign exchange market is under the control of the Central Bank. Thus, the regulator compensates for the structural deficit of the currency, so the exchange rate fluctuates from time to time – the dollar becomes more expensive and cheaper.
Source: Focus
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