The National Bank of Ukraine reduced its foreign currency sales in February to $1.5 billion, which is relatively less than in the previous two months, according to the NBU, UNN reports.
Details
The NBU's foreign currency sales have been declining for two months in a row. Net foreign exchange sales in February amounted to USD 1.541 billion, compared to USD 2.549 billion in January and USD 3.559 billion in December.
Through foreign exchange interventions, the NBU balances the currency market to maintain the exchange rate.
Despite the decline in foreign exchange interventions, February saw the highest official NBU exchange rate at 38.6237 hryvnia per dollar, although the dollar has fallen by almost 42 kopecks over the past week.
Recall
On October 3, 2023, the NBU introduced managed exchange rate flexibility to strengthen the foreign exchange market and the economy.
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