National Bank makes record foreign currency purchase in one day at $700 mln

On December 26, the National Bank bought up $700 million from the interbank foreign exchange market.

The National Bank bought $230 million through an auction and another $470 million – through traditional interventions, that is, participation in the interbank market.

"Such volumes of currency purchase in one day set this year's record high," the regulator's press service wrote on Facebook.

The most likely explanation for the record purchase is the currency sale by Naftogaz.

Read alsoPM Honcharuk says 2020 budget may be revised amid hryvnia strengthening

"Since year-start, the net purchase of currency by the NBU has stood at about $7.5 billion, which is also a record high since 2007. The currency supply significantly exceeds demand due to the steady influx of foreign investment in the hryvnia-denominated government bonds, attraction of external financing by state-owned companies, as well as significant amounts of foreign exchange earnings on the part of exporters," the report said.