The FINANCIAL — The National Bank of Ukraine has said that the hryvnia has strengthened since it began holding currency auctions aimed at enabling borrowers to repay their foreign-currency loans.
The National Bank of Ukraine said this in a statement.
«The holding of foreign-currency auctions by the National Bank has allowed reduction of the shortage of foreign currency on the domestic market, thus facilitating a strengthening of the hryvnia, which has risen against the dollar by 2.1% on the inter-bank currency market and by 2.6% on the cash market of bank operations involving sale of dollars since the beginning of February,» the National Bank of Ukraine said.
According to information from the National Bank of Ukraine, USD 227.02 million has been sold at currency auctions at the exchange rate of 7.8 UAH/USD, EUR 1 million at the exchange rate of 9.97 UAH/EUR, and EUR 0.8 million at the exchange rate of 10.66 UAH/EUR since the beginning of March.
The hryvnia’s official exchange rate to the dollar has remained unchanged in March (7.70 UAH/USD) while its official exchange rate to the euro has fallen by 6.5% to 10.48 UAH/EUR, and its official exchange rate to the Russian ruble has fallen by 6.7% to UAH 2,30 per RUR 10.
As Ukrainian News earlier reported, the National Bank of Ukraine began selling foreign currency at auctions on February 27 with the aim of enabling borrowers to repay their foreign-currency loans.