Business news from Ukraine

“NET” SALES OF FOREIGN CURRENCY BY NATIONAL BANK FELL BY HALF FROM APR 4 TO APR 8

9 April , 2022  

In the week from April 4 to 8, the National Bank of Ukraine again sold more currencies than it bought: dollars – by $ 211 million, euros – by EUR 84.9 million, which, however, is more than two times less than a week earlier, when the “net” sale amounted to $282.1 million and EUR299.8 million.

According to the NBU on its website, this week it bought only $11.5 million and EUR5.5 million, while their sale amounted to $222.5 million and EUR90.3 million.

As reported, in the first week and a half after the war started by Russia on February 24, the “net” purchase of foreign currency by the National Bank amounted to $690.3 million and EUR20 million, since the ban on the purchase of foreign currency had just been introduced, and the list of critical imports had not yet been significantly expanded.

However, in the following weeks, the volume of currency purchases by the central bank began to fall, while the volume of its sale increased. At the same time, last week was the first when the growth trend of “net” sales stopped, and its volumes even slightly decreased compared to the previous week: to the equivalent of $611.9 million from $618.6 million a week earlier, and this week they fell twice at once.

In total, since the beginning of the year, the National Bank has purchased $1 billion 778.8 billion and EUR80.2 million on the market, and sold $4 billion 501.9 million and EUR1 billion 82.7 million, including since the beginning of the war the purchase of foreign currency amounted to $1 billion 121.9 million and EUR80.2 million, and the sale of $1 billion 731.7 million and EUR1 billion 82.7 million.

Ukraine’s international reserves as of April 1, 2022, according to preliminary data, amounted to $28 billion 107.5 million (in equivalent), which is 2% more than at the beginning of March ($27.538 billion).