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National Bank explained the reasons for strengthening the hryvnia

  • National Bank explained the reasons for strengthening the hryvnia

Kiev: The hryvnia exchange rate, which has recently strengthened, depends, in particular, on the market situation, which is now favorable, the IT industry, which is growing annually, maintains this year's rate and significant volumes of purchases by non-residents of hryvnia government securities. This was told by the head of projects and programs of the Open Markets Department of the National Bank Emal Bakhtari, the NBU press service reports.

“Now the situation is favorable on the market. Imported goods, in particular the oil and gas that Ukraine buys, have fallen in price. And for the export that we sell, these are very good conditions. This year is a record of harvest. Also, metallurgists have very good volumes of foreign exchange earnings," - quoted the official press service of the regulator.

According to him, one should not forget about the IT industry, which is growing every year. More and more Ukrainian companies have orders from foreign businesses. This contributes to the fact, that the market is getting more currency. Then the laws of the market come into force and the hryvnia is strengthened.

It is also indicated, that the new factor, that supports the exchange rate this year is significant volumes of purchases by the non-residents of hryvnia government securities. Since the beginning of the year, the volume of investments has grown by 15 times and now stands at about 97 billion UAH.


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