Ukrainian Hryvnia Remains Stable Amid Foreign Exchange Shortage and Global Market Uncertainty
The Ukrainian hryvnia has maintained its stability against key currencies despite a severe foreign exchange shortage in the market. The National Bank of Ukraine (NBU) has been actively intervening to strengthen the hryvnia, with the volume of interventions reaching $5.915 billion between August 3 and September 4.
The demand for foreign currency remains high due to preparations for winter, as companies continue to import energy equipment. However, the difficult situation with grain exports, caused by regular Russian attacks on port infrastructure and ships, is putting additional pressure on the foreign exchange market.
The global context is also influencing the hryvnia's trajectory. The Federal Reserve (Fed) is set to announce its interest rate decision on September 16, with a 90% probability of a rate hike. This has led to a strengthening of the dollar against major currencies, including the EUR/USD pair.