The National Bank of Ukraine continues to be an active player in the foreign exchange market of Ukraine, carrying out interventions in the interbank market with due regard to the impact of all ad hoc factors on the exchange rate.

Yesterday, on September 8, the National Bank of Ukraine sold USD 94 million.

The National Bank of Ukraine sold foreign currency through direct interventions and a targeted foreign exchange auction. The central bank accepted 100 % of the bids for purchase of foreign currency (US dollar) submitted by banks.

According to Governor of the National Bank of Ukraine Valeriia Gontareva, the regulator will continue to contemplate all available financial instruments that it could deploy not only to stabilize the market but also to build and kick-start it. "The regulator gives confidence to the market players that the market will follow a projected path, paving the way for the successful implementation of a flexible exchange rate regime," noted the Governor of the National Bank of Ukraine.

As for the foreign exchange auction that was held for the first time since 2010, it was intended to sell foreign currency for hryvnias to meet the needs of banks' clients. US dollars were sold at the exchange rate of UAH 12.90 per USD 1. Overall, the banks that participated in this auction submitted 9 bids.

"The National Bank of Ukraine expects these targeted foreign exchange auctions to provide stimuli to put the exchange rate of the national currency firmly on an appreciating path and reinforce the positive trends in the foreign exchange market," said Governor of the National Bank of Ukraine Valeriia Gontareva.