The U.S. dollar further strengthened against the hryvnia, Ukraine's national currency to UAH 27.90 in Kyiv's currency exchange booths on the morning of Tuesday, March 17.

The euro also gained in value, to UAH 30.90, according to an UNIAN correspondent.

Meanwhile, the U.S. dollar trades for UAH 26.80 on average, while the euro – for UAH 29.5.

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As UNIAN reported earlier, the National Bank of Ukraine (NBU) spent US$981.6 million from reserves to support the hryvnia on March 10-13.

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

The regulator sold US$238 million on the interbank foreign exchange market on Monday, March 16.

According to the NBU, the increased demand for foreign currency is caused by a psychological factor, namely the deterioration of market sentiment due to the global spread of coronavirus.