Ukraine's hryvnia continues weakening

Ukraine's hryvnia continues weakening after the National Bank of Ukraine (NBU) has set its official forex rate against the U.S. dollar for Wednesday, March 18, at UAH 27.06 per U.S. dollar.

Thus, the Ukrainian currency weakened by another 54 kopiykas after it devalued by 43 kopiykas on Monday, March 16.

Read alsoUkraine's hryvnia slumps to UAH 26.52 to U.S. dollar on March 17

As the NBU said on its website, the official forex rate of the hryvnia against the euro is set at UAH 29.73 per euro for March 18, which let the Ukrainian currency weaken by another 21 kopiykas from the previous level.

On Tuesday morning, currency exchange booths sold U.S. dollars for UAH 27.90 per dollar, while the rate of the euro climbed to UAH 30.90 per euro.

Forex quotations on Ukraine's interbank market as of 15:00 Kyiv time on Tuesday, March 17, were set at UAH 27.08/27.15 per dollar and UAH 29.74/29.85 per euro.

As UNIAN reported earlier, high demand on the interbank market in Ukraine has been formed by Ukrainian companies, while purchases of foreign currency by nonresidents for selling government domestic loan bonds are insignificant.

From March 10 to March 13, the NBU sold US$981.6 million on the interbank market to prop up the hryvnia.

On March 16 alone, the central bank sold US$130.5 million at a foreign currency auction.