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Ukraine: National currency is stable, but reserves declining

The National Bank of Ukraine published information on the state of Ukraine’s currency market in October 2011. Through October 2011, an average daily net demand on foreign currency went down by 34.6%, and in the cash segment – down 29.5%, at the interbank currency market of Ukraine. Foreign currency incoming from non-residents exceeded transfers of such to them by the amount equivalent to $0.8B.

In October 2011, the National Bank of Ukraine conducted transactions in both purchase and selling of foreign currency. In particular, NBU sold foreign currency to support payments on foreign contracts by state corporation NJSC Naftohaz Ukrainy, which facilitated a timely settlement by the company for imported gas and maintenance of a forecasted UAH exchange rate.

Negative balance in NBU interventions in October was almost USD 1.5 billion, which is down 24.9% from September.

Amount of international reserves reduced by USD 788.2 million – to the equivalent of USD 34,162.3 million.

During this month, the UAH/USD market exchange rate on cashless transactions decreased by 0.14% - to UAH/USD 8.0094/1, and on USD cash sales – down 0.13% - to UAH/USD 8.0515/1.

In October, hryvnia went down in value against USD by 0.05%, to UAH 7.9770 / USD 1, down 4.06% against Euro – to UAH 11.2954 / EUR 1, and down 6.67% against RUR – to UAH 2.6681 / RUR 10.


Source: National Bank of Ukraine

 
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