The National Bank of Ukraine (NBU) has improved its hryvnia exchange rate forecast for 2020 as the International Monetary Fund (IMF) and the World Bank did, Ukrainian Finance Minister Oksana Markarova has said, without specifying the concrete figure. In all forecasts and in forecasts of the National Bank, the exchange rate for the next year is strengthened, that is, the rate on which the budget was based (UAH 28.20/$1). Obviously, it will not be like that anymore, the finance minister said in an interview with the Voice of America in Washington.
She added that soon the Finance Ministry and the government will receive an updated forecast of the Ministry of Economic Development, Trade and Agriculture, on the basis of which changes will be made to the draft national budget for 2020.
The forecasts of all the organizations, the National Bank say that the rate is strengthening and this is a long-term trend. Therefore, there will be fluctuations, but we should expect that this strengthening is not some small fluctuation of this year, but this is a new normality, Markarova said.
As reported, since the beginning of 2019, the hryvnia exchange rate has strengthened by 10.3%, to UAH 24.835244/$1.
The National Bank of Ukraine does not officially announce its exchange rate forecasts, at the same time, it sends them to the government for drawing up the draft national budget.
The National Bank of Ukraine (NBU) in the period from September 30 through October 4, 2019 first since the start of August entered the market to support the hryvnia, selling $200 million – almost the same amount as for the entire period since the beginning of 2019.
According to a posting on the website of the central bank, all these interventions were made at the single exchange rate (using the matching tool).
At the same time, the National Bank last week managed to acquire $42.5 million, as a result of which the net sale of foreign currency amounted to $157.5 million.
In general, since the beginning of 2019, the NBU has bought $4.199 billion at the interbank currency market, sold $448.2 million, in particular, it bought $930 million in September, $316 million in August, $1.271 billion in July, and $322 million in June, and sold only $ 17 million early August.
The volume of purchase of cash currency by the population in August 2019 exceeded the volume of sales by $97 million.
According to the National Bank of Ukraine (NBU), the volume of currency purchase for the second month in a row exceeds the volume of sales, while in June and May Ukrainians sold more currency than they bought.
In general, since the beginning of 2019 the population has sold $56.4 million more currency than bought.
The NBU said that in August compared with July Ukrainians reduced the purchase of foreign currency by 5.1%, to $1.424 billion, sales by 5.7%, to $1.327 billion.
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