The hryvnia exchange rate against the dollar fell by 1% over the week, but demand for the currency may soon decrease

Last week, the hryvnia exchange rate on the interbank market changed its trend, and after a long strengthening, it began to fall against the dollar, losing 1% in a week.

Usually, trading on Friday is calm with small volumes of lots, but on November 19, panic increased in the market, and a significant number of importers decided to buy foreign currency. Against the background of a small volume of currency offers from exporters, non-residents tried to swing the exchange rate.

In the morning, the exchange rate rose from 26.48/26.5 UAH/. to 26.57/26.59 UAH/., so the National Bank urgently entered the market with the sale of foreign currency at the rate of 26.59 UAH/., which stopped the growth of the exchange rate, since everyone was able to buy foreign currency. In total, during the day, the NBU sold more than.100 million at the rate of UAH 26.59/., with the total volume of interbank trading on this day at the level of. 170 million.

During November 15-19, the National Bank sold a record.108 million on the interbank market and purchased only. 5 million, while in the previous week, on November 8-12, it bought the largest історії 858.3 million in history. In total, since the beginning of the year, the regulator has purchased 3 3,606.7 million on the interbank market, and sold. 354.6 million, so the total balance was. 3,252. 1 million. This indicates that the trend of excess currency supply over demand continues, which will continue until the end of the year.

Probably, after a sharp speculative jump in the dollar exchange rate from 26.3 to 26.55-26.57 UAH/., the number of currency offers will also increase, especially if the National Bank actively sells the currency, earning on the difference in exchange rates.

Increased exports of agricultural products continue to increase foreign exchange earnings, which compensates for a slight increase in demand for foreign currency from importers.