From November 4 to 8, the National Bank sold $739.4 million on the interbank foreign exchange market (IFEM), which is $43.3 million more than the previous week.
At the same time, the regulator also bought over a million dollars for the first time in six months, specifically $4 million, as reported in the NBU statistics.
In September, the NBU sold $3.21 billion on the interbank market. This is a 19.8% increase compared to August's $2.68 billion. Additionally, from September 23 to 27, the NBU did not purchase currency on the interbank foreign exchange market and sold $782.25 million. During that time, the regulator reduced currency sales compared to the previous week by $44.15 million.
Overall, since the beginning of the year, the National Bank has sold nearly $27.8 billion while purchasing $125.2 million.
It is worth noting that at the end of October, the Board of the National Bank of Ukraine (NBU) decided to keep the key interest rate at 13%. This decision, along with support for the stability of the foreign exchange market, will help keep inflation expectations in check, slow down inflation next year, and gradually return it to the 5% level.
In recent months, inflation has risen as expected, but faster than anticipated. In September, the rate of price growth accelerated to 8.6% year-on-year. According to NBU estimates, inflation continued to rise in October.
We also reported that the volumes of cash currency purchases by Ukrainians in October this year reached a record high since November 2012.
In October, the population of Ukraine purchased cash currency amounting to $2.585 billion, which is $319 million more than in September. At the same time, sales increased to $1.313 billion (only by $42.2 million).
Regarding non-cash currency, the volumes of purchases increased in October compared to September by $26.3 million to $420.2 million, while sales increased by $5.6 million to $299.3 million.
Moreover, on October 31, the National Bank published an updated macroeconomic forecast for 2024-2026, which discusses what will happen to Ukraine's economy in the near future.
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Based on materials from EP