NBU spends $1.3 billion on propping up hryvnia

15:12, 03 November 2014
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The National Bank of Ukraine, the country’s central bank, has over the last month-and-a-half pumped $1.3 billion into supporting the ailing national currency, the hrynvia, the head of the bank said on Monday.


National Bank of Ukraine Governor Valeria Gontareva told journalists at a briefing in Kyiv that the bank had intervened on the currency markets to support the hryvnia.

The hryvnia has slumped from around UAH 8 to the dollar last year ahead of the civil unrest and war in Ukraine, to around UAH 13 to the dollar now.

The heads of the country’s largest banks at a meeting with top Ukrainian officials on September 23 said they would work to ensure a stable exchange rate for the hryvnia at UAH 12.95 to the dollar.

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