In September the foreign exchange earnings from non-residents exceeded payments to non-residents by USD 617 million (in the equivalent). Simultaneously, on the back of seasonal factors tension in the global financial markets there was a rise in the domestic demand for foreign currency, which appeared to have exceeded the foreign exchange supply.

Under such conditions, net demand for foreign exchange was offset by the exchange rate movements and interventions conducted by the National Bank of Ukraine. The total balance of NBU currency interventions was negative, having exceeded USD 1.9 billion.

The National Bank of Ukraine backed the payments by the National Joint-Stock Company “Naftogaz of Ukraine” under its external contracts, which ensured timely settlement of payments by the company for the imported gas with the simultaneous maintenance of the projected hryvnia exchange rate dynamics.

During the month the market exchange rate of the hryvnia against the US dollar on cashless transactions fell by 0.02 % to UAH 7.9985 per USD 1, whereas that on cash transactions on sale of US dollars declined by 0.23 % to UAH 8.0407 per USD 1.

The official UAH/USD exchange dropped by 0.03 % to UAH 7.9727 per USD 1. The official UAH/EUR exchange rate firmed by 5.44 % to UAH 10.8548 per EUR 1. The hryvnia appreciated against the Russian ruble, the official UAH/RUB exchange rate went up by 9.45% to UAH 2.5012 per RUR 10.