Ukrainians sell $105 mln more foreign currency in cash than they buy in Oct

Ukrainians sell $105 mln more foreign currency in cash than they buy in OctNet sales (excess of sales over purchases) of foreign currency in cash by Ukrainians in October amounted to $104.7 million, the National Bank of Ukraine (NBU) reported on its website.

According to the regulator's data, the tendency of excess supply of foreign currency over its demand in the cash currency market has been observed for the ninth consecutive month.

Since the country's transition to a flexible exchange rate, the Ukrainian hryvnia depreciated against the dollar by 3.8 times in 2014 and two months of 2015 hitting a new historic low of UAH 30.01 to the dollar.

After introduction of the NBU restrictions and the allocation of the first tranche under the International Monetary Fund's new cooperation program with Ukraine, the hryvnia had strengthened with the exchange rate fluctuating within a range of UAH 21-23 per U.S. dollar in the past five months.

In April this year, the NBU announced equilibrium in the forex market and existing grounds for liberalization of the market. The regulator noted that the previously imposed restrictions would be eased as agreed with the IMF, provided the fulfillment of certain preconditions.

Source: UNIAN
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