The net supply of foreign currency from the Ukrainian population since the beginning of the year as of May 11 amounted to $970 million, Head of the Council of the National Bank of Ukraine (NBU) Bohdan Danylyshyn has said.
“Net sales of foreign currency by the population from the beginning of the year to May 11 amounted to $706 million in cash transactions and $264 million in non-cash transactions,” he wrote on Facebook on Wednesday.
Danylyshyn said that in May the exchange rate of the hryvnia on the interbank FX market continued to strengthen for the third week in a row, reaching its high in the past month and a half amid an increase in the supply of foreign currency from the banks’ clients.
According to him, the FX reserves of the NBU as of May 11 amounted to $27.9 billion, which is 4%, or $1.2 billion less than at the beginning of the year, and 0.4%, or $100 million, less than at the beginning of the month.
The head of the NBU Council added that in April, the volume of transactions of banks’ clients with non-cash foreign currency, taking into account swap transactions, decreased 12.1% as for transactions for the sale of foreign currency and by 8.5% as for transactions for the purchase of foreign currency.
At the same time, the prevalence of demand for foreign currency over supply in respect of client operations in April amounted to $520 million (including $286.5 million on a forward basis) and was satisfied mainly through the sale of foreign currency by banks.
