UAH/USD Dropped Down
OREANDA-NEWS On 07 October was announced, that the NBU sold USD 175mn at UAH/USD 5.0 on the interbank market. This reduced the interbank exchange rate from UAH/USD 5.3 to UAH/USD 5.2
As we expected the NBU finally entered the interbank forex market, which slightly cooled down the situation in the market. However, we expect the NBU will probably need to repeat the operation as both the outflow of foreign investment and negative expectations concerning Ukraine’s industrial growth and a slow down in exports will further devalue the national currency on the interbank market again.