National Bank of Ukraine boosts forex intervention by 29.6% last week

MOSCOW. March 23 (Interfax) - The National Bank of Ukraine (NBU) increased intervention on the interbank market last week by $307 million, or 29.6%, to $1.344 billion, which was the regulator's largest weekly intervention since the end of 2024, Ukrainian media reported citing a report on the NBU's website

Over the first four days of last week, the average daily negative balance between forex purchases and sales by legal entities grew to $170.9 million from $97.1 million over the same period the week before to total $683.4 million.

At the same time, the negative balance between purchases and sales of forex on the cash market from Saturday to Thursday grew to $57.9 million from $38.5 million the week before last.

The official hryvnia-dollar exchange rate, which started last week at UAH 44.1381/$1, strengthened to UAH 43.9617/$1 at end the week.

The exchange rate on the cash market followed the official exchange rate last week, its buy rate declining by UAH 0.17 to UAH 43.86/$1 and its sell rate by UAH 0.19 to UAH 44.24/$1.