A constitutional crisis has increased the pressure on the hryvnia in Ukraine

voltage Gain after the stunning decision of the constitutional court and the resulting statements of the President about the possible dismissal of judges, which contradicts the Constitution of Ukraine, increases the concerns of investors and the pressure on the hryvnia, which last week dropped from 28,34 to 28.5 UAH/$.

To support the hryvnia national Bank from 26 to 30 October sold 147.5 m $. Overall, in 2020, the NBU bought on the interbank market of 4.51 billion $ and sold 3,73 billion $. After the payment of the obligations on external debt in September, Ukraine's international reserves decreased by 8.7% and as of 1 October were equivalent to 26,525 $ billion.

the Main reason for the devaluation of the hryvnia against major world currencies in Q3, according to the NBU, the deterioration in business expectations, with the result that demand for foreign currency exceeded supply. As a result, at the end of the 3rd quarter the hryvnia exchange rate against the dollar compared with the end of the 2nd quarter fell by 6% since the beginning of the year – almost 20%.

According to the national Bank, the main buyers of the currency were importing cars and household goods, investors of the government bonds market and foreign direct investors, which were taken abroad dividends. The main reason for the fall of the depreciation of the hryvnia have resulted in an increased demand for foreign currency from importers, whereas in the cash market, the population sells more foreign currency than buys. The Central Bank forecasts that the rate will be floating and will depend on the balance of supply and demand.

In September the volume of private money transfers to Ukraine increased in comparison with September 2019 5.6% from 1040 to 1,098 million $, although in General in the period January-September decreased in comparison with the corresponding period of the previous year by 2.5% to 8,701 8,481 $ billion. The specified statistic takes into account both formal and informal channels of funds. In particular, in January-September 2020 according to unofficial sources, Ukraine received 3,144 billion $, which is 1,173 billion $ over the same period 2019