Category Archives: Economics

Gontareva said that restrictions on the foreign exchange market can be gradually removed

Since the beginning of March, the NBU has bought $579 million on the foreign exchange market to replenish international reserves, said the chairman of the National Bank Valeria Gontareva.

Administrative restrictions on the foreign exchange market will be gradually removed if the trend towards its stabilization continues.

This was stated by the chairman of the National Bank of Ukraine Valeria Gontareva.

He noted that since the beginning of March, the NBU has bought $579 million to replenish international reserves, which will help stabilize the foreign exchange market without administrative restrictions in the future.

“Now we have something to support the market. In the future, these funds can be used for currency interventions in case of market volatility or panic in the population. If the trend of stabilization continues, the administrative restrictions will be gradually removed,” Gontareva said.

The head of the National Bank added that the population also continues to sell cash foreign currency to banks more than it buys. The balance of such operations since the beginning of the month amounted to almost $70 million.

Gontareva also noted that the stabilization of the situation on the currency market was facilitated by reaching an agreement with the IMF on the EFF loan.

“In accordance with this program, on March 13, the National Bank received the first tranche worth about $5 billion.