National Bank of Ukraine reduces forex intervention by 30% over week

MOSCOW. April 6 (Interfax) - The National Bank of Ukraine (NBU) reduced intervention on the interbank market last week by $380.7 million, or 30%, to $888.5 million, 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 abruptly fell to $129.3 million, which is 35.2% less than $199.4 million recorded over the same period the week before.

The negative balance between purchases and sales of forex on the cash market from Saturday to Thursday dropped to $28.2 million from $31.9 million the week before last.

The official hryvnia-dollar exchange rate, which started last week at UAH 43.8400/$1, strengthened to UAH 43.8144/$1 at the end of the week.

The exchange rate on the cash market followed the official exchange rate last week, strengthening by 8-9 kopecks, with its buy rate at UAH 43.48/$1 and its sell rate at UAH 43.88/$1.