The dollar is rising in price: The National Bank named the reasons
8 April 2024 11:28
The National Bank of Ukraine has named the reasons for the recent rise in the dollar. This was reported by the press service of the NBU, Komersant ukrainskyi 
reports.
It is noted that government spending has increased since the second half of March.
“Together with the further exhaustion of the effects of selling foreign currency to pay annual taxes, this has led to an increase in demand for foreign currency. As a result, the hryvnia weakened,”
– the statement said.
At the same time, the situation on the foreign exchange market remains under control, and exchange rate fluctuations are not threatening.
The NBU notes that it will continue to cover the structural deficit of foreign currency in the market, so that the hryvnia will be able not only to weaken but also to strengthen, as it has done in previous periods.
The depth of the FX market continued to increase, rising to $119 million per day in March, compared to $34 million per day before the move to managed flexibility. The difference between the cash and official exchange rate is currently 0.7%, which is less than in previous periods.
“Both factors increase the stability of Ukraine’s foreign exchange market,”
– the NBU added.
