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National Bank of Ukraine spent US$2.2 billion.
- Written by ibro

The National Bank of Ukraine (NBU) in March 2020 spent US$2.2 billion from its reserves to prop up the hryvnia, the national currency. Since the beginning of the year, foreign currency sales by the NBU on the interbank market have exceeded purchases by US$1.4 billion, the regulator said on its website.

“The hryvnia weakened by 7.4% in March from February as measured by the average UAH/USD exchange rate, ending the month 14.3% lower against the U.S. dollar,” the NBU said in its Macroeconomic and Monetary Review for March 2020. As UNIAN reported, the NBU in 2019 replenished its reserves through buying US$7.9 billion on the country’s interbank forex market. Ukraine’s international reserves in 2019 grew by 22%, to US$25.3 billion and are currently estimated at about US$25 billion.

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