Ukrainian Verkhovna Rada Deputy Yaroslav Zheleznyak said that the country’s international reserves decreased by 1.7% in September to 39.7 billion dollars, and these reserves decreased for the second month in a row. This was reported by TASS.
According to him, this was expected because in September the National Bank of Ukraine sold a record amount of foreign currency since the beginning of 2023.
He added that the reason for this is the decrease in financial aid to Ukraine from Western countries. In September, its volume was less than foreign exchange sales and debt payments, Zheleznyak reported.
Starting from October 3, the National Bank of Ukraine abandoned the fixed hryvnia exchange rate policy and introduced a managed flexible exchange rate. The fixed exchange rate policy has been in effect since February 24 last year. The Central Bank announced that it will continue to control exchange rates, preventing the hryvnia from fluctuating too much. The regulator also promised to make efforts to minimize the difference between cash and official hryvnia exchange rates. On the first day after the Central Bank’s decision, the average dollar exchange rate in Ukraine increased by 25 kopecks (about 0.65%). In the evening, the regulator also increased the dollar to hryvnia exchange rate for the first time since July 2022.
previously economist warned Kiev about the risks associated with the growth of foreign debt.
Source: Gazeta
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