The National Bank named four factors for the growth of the hryvnia

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The National Bank named four factors for the growth of the hryvnia

18.06.2021 News

Significant strengthening of the hryvnia against the dollar is due to four main factors. Vasyl Furman, Deputy Chairman of the Council of the National Bank of Ukraine, said this on the air of Ukraine 24 TV channel.

“This is primarily an increase in prices in commodity markets, on the one hand, although, on the other hand, we must say that our import component is increasing … The second factor why the hryvnia is strengthening is the sale of the dollar by Ukrainians.

In total, more than a billion dollars have been sold since the beginning of the year. The third factor is non-residents, the demand for domestic government bonds … There is a fourth factor – situational, “Furman said.

He reminded that in the beginning of May the hryvnia strengthened considerably because the enterprises paid taxes. Exporters also sold dollars and the period of dividend payments by Ukrainian companies owned by foreign parent companies ended.

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