FOREX MARKET

Ukraine central bank buys $64 million in interbank forex market | KyivPost – Ukraine's Global Voice – Kyiv Post



People wearing face masks amid concerns over the spread of the COVID-19 pass currency exchange sign after shopping in Velyka Kyshenya supermarket on March 27, 2020 in central Kyiv.

Photo by Volodymyr Petrov

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The National Bank of Ukraine (NBU) on March 31 bought $64 million in the interbank foreign exchange market to smooth out excessive exchange rate fluctuations, while on March 30 the central bank did not enter the market with interventions.

“It was $64 million, not sold but bought by the National Bank in the interbank foreign exchange market. Positive news from the Verkhovna Rada, which brought Ukraine closer to the new program of cooperation with the IMF, probably encouraged the foreign exchange market,” the NBU said in a statement.

On March 31, the supply of currency from the business exceeded demand, so the national currency strengthened.

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