REUTERS
On Nov 28, martial law was introduced in 10 regions of Ukraine for a period of 30 days.
Ukraine's national currency, the hryvnia, in November devalued to the U.S. dollar at the official exchange rate by 23 kopiykas, or 0.8%, to UAH 28.3909, from UAH 28.1644, according to the National Bank of Ukraine.
As reported on the NBU website, during most of the month, the situation in the foreign exchange market remained favorable, while currency supply from bank clients prevailed over demand.
It is noted that this was facilitated by improved market sentiment, given the approaching prospects for obtaining financial assistance from the International Monetary Fund.
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At the same time, in late November, the escalation of the conflict with Russia near the Kerch Strait and the introduction of martial law in certain regions of Ukraine led to a short-term increase in panic demand in the cash market and an harder turbulence in the interbank foreign exchange market.
The National Bank noted that in order to reduce the intensity of forex fluctuations, it maintained its presence in the foreign exchange market, both buying and selling currency.
Over the past month, the NBU bought $233 million more currency than it sold, and from the beginning of the year, the gap was $1 billion.
As UNIAN reported, the national currency of Ukraine in October strengthened against the U.S. dollar by 0.5%. On Nov 28, martial law was introduced in 10 regions of Ukraine for a period of 30 days.
On the news of martial law introduction, the national currency depreciated on the interbank foreign exchange market by 15 kopiykas on Nov 26, by 23 kopiykas on Nov 27, and by 18 kopiykas on Nov 28. On Thursday, Nov 29, the situation on the interbank market stabilized, and on Friday, the hryvnia strengthened by 13 kopiykas.