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The national Bank explained why the dollar is so often more expensive

Нацбанк рассказал, почему доллар так часто дорожаетThe Agency clarified the situation surrounding the us currency.

The hryvnia devaluation in September was due to temporary factors, the National Bank of Ukraine.

“In early September, the business received a VAT refund in local currency, which gave him the opportunity to reduce the sale of foreign currency. Together with the decreasing supply and increased demand for foreign currency, including the payment of dividends. In addition, superimposed psychological factor – the negative experience of previous years, when the currency market was observed seasonality”, – said the Deputy head of the NBU Oleg Churiy.

80% of the currency in Ukraine comes from mining and agricultural companies.

“Until the end of autumn expect moderate fluctuations in the exchange rate of the hryvnia. In recent weeks, once again began to spread the statement that the torque is always rapidly devalue in the fall. And this autumn will be no exception. We are concern do not share. Indeed, in work of the currency market in Ukraine has always existed a certain seasonality. But the use of a floating exchange rate, the development of the foreign exchange market and reforms in other sectors of the economy allow this influence to reduce,” said Curi.

Traditional autumn factors have played a much smaller role.

“Naftogaz” has sufficient foreign exchange earnings and pressure on the foreign exchange market large one-time purchases. The Ministry of Finance reimburses the business for VAT are more or less evenly, rather than one-time payments of large sums at the end of the month. In addition, autumn is a time of foreign currency revenues from the export of the new harvest,” – said the Deputy head of the national Bank.

International reserves at the beginning of September amounted to $18 billion According to the forecast, the NBU, the money is enough for intervention to smooth excessive fluctuations in the currency market.

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