NBU for the first time supports hryvnia with new form of intervention at UAH 27.687/$1
The National Bank of Ukraine (NBU) on January 13 for the first time carried out the sale of foreign currency within foreign exchange interventions in a new form - inquiry about the best exchange rate, the introduction of which is provided in the Strategy of Currency Interventions for 2016-2020.
"The National Bank entered the market with the intervention in this form to smooth excessive fluctuations caused by temporary factors. The volume of the intervention amounted to $10 million. The average weighted rate, at which the intervention was carried out, stood at UAH 27.687 per $1," the central bank reported.
According to its data, taking into account the confirmed effectiveness of the new form of currency intervention, the National Bank plans in future to continue using this instrument to smooth excessive fluctuations in the currency market if necessary.
