Ukraine's central bank reports on its forex interventions to prop up hryvnia

The National Bank of Ukraine (NBU) has reported how much foreign currency it sold to prop up the hryvnia, Ukraine's national currency.

The NBU's forex sales on the country's interbank forex market in August 2018 exceeded purchases by $621.3 million, the bank said on its official website.

The central bank conducts forex interventions on the interbank market to smooth excessive fluctuations in the forex rate of the hryvnia against the U.S. dollar.

Read alsoNBU strengthens official forex rate to UAH 28.02 to dollar

At the same time, the NBU's forex purchases since the beginning of the year were higher than sales, and an excess amount of US$ 579.3 million was used to replenish the country's international reserves.

As UNIAN reported earlier, the national currency of Ukraine at the official exchange rate in August 2018 weakened by 5.7% against the U.S. dollar and by 5.8% against the euro. Current quotes of the hryvnia against the U.S. dollar on the interbank forex market are UAH 28.12/28.17 per U.S. dollar, according to dealers of commercial banks.