REUTERS
The regulator says the increased demand for foreign currency is due to a psychological factor, namely a deterioration in the moods of market players over the global spread of coronavirus.
Ukrainian banks in recent days have been showing signs of a shortage of cash foreign currency, which is caused by an increase in the population's demand for cash foreign currency.
Some US$8 billion of non-cash currency are now in correspondent accounts of banks, and customers can freely transfer their currency to their accounts opened with other banks and convert one non-cash currency to another, as reported by the National Bank of Ukraine.
"But due to the termination of air travel and the closure of borders, cash dollars and euros are being delivered to Ukraine with a delay. Given the quarantine measures introduced by the countries around the world, and Ukraine, the National Bank together with banks are addressing this problem," the regulator said.
Read alsoCurrency panic in Kyiv: U.S. dollar up to UAH 27.90 in Kyiv's exchange booths on March 17
As UNIAN reported earlier, the National Bank of Ukraine (NBU) spent US$981.6 million from reserves to support the hryvnia, Ukraine's national currency, on March 10-13.
In particular, the regulator sold US$270 million on the interbank foreign exchange market on Tuesday, March 10, about US$350 million on Wednesday, over US$220 million on Thursday, and almost US$150 million on Friday to stabilize the hryvnia.
Yesterday, March 16, the NBU sold US$238 million on the interbank foreign exchange market.
The regulator says the increased demand for foreign currency is due to a psychological factor, namely a deterioration in the moods of market players over the global spread of coronavirus.