Hryvnia ends the year with a strengthening on the interbank market
Last week, the hryvnia on the interbank market steadily strengthened on Friday amounted to 27,37/27,40 UAH/$. Supply significantly exceeds demand due to the growth of foreign exchange earnings and revenues from the Ministry of Finance placed t-bills with a yield of 20% per annum in UAH. Importers reduce demand for the currency as it approached the Christmas holidays in Europe and the United States, when to stop calculations at.
limited to the state Treasury shall reimburse VAT to exporters, to form significant remnants of the hryvnia, which would have boosted demand for the currency.
the national Bank intensively replenish the gold reserves, buying surplus currency "anonymously" through a system of Matching, however, did not conduct public auctions to prevent a sharp strengthening of the hryvnia caused a temporary jump in income currency.
In early January, the flow of currency is usually reduced, which leads to the growth rate. So, in January of 2018, the dollar 27,9 UAH/$ at the beginning of the month rose to 28,7 UAH/$ at the end of the month, but in February returned to 26.80 UAH/$.
the national Bank continues to maintain a stable hryvnia exchange rate, with no significant spikes or falls. While not spending a lot of gold reserves, and offers to the market to determine maximum and minimum levels of the hryvnia exchange rate to stabilize.