The National Bank of Ukraine (NBU) has reported how much foreign currency it gas sold to prop up the hryvnia, Ukraine’s national currency.
The NBU’s forex sales on the country’s interbank forex market in August exceeded purchases by $621.3 million, the bank said on its official website.
The central bank conducts forex interventions on the interbank market to smoothen excessive fluctuations in the forex rate of the hryvnia against the U.S. dollar.
At the same time, the NBU’s forex purchases since the beginning of the year have been higher than sales, and an excess amount of $579.3 million has been used to replenish the country’s international reserves. (UNIAN/Business World Magazine)
