The NBU has assessed the resilience of the hryvnia to the new lockdown

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The NBU has assessed the resilience of the hryvnia to the new lockdown

24.11.2020 News

The fall of the hryvnia will not happen again in the event of a full lockdown, as in March, assured the director of the open markets department of the National Bank Oleksiy Lupin.

“We do not expect a repeat of the March events in the foreign exchange market, because in March it was something new, there was panic all around the world, and no one knew what to do,” Lupine said.

He clarified that the March fall was caused by panic among non-residents who tried to quickly withdraw and quickly close their investments in Ukraine.

According to him, non-residents followed a similar tactic not only in Ukraine but also in all developing countries.

The official exchange rate of hryvnia to the dollar at the end of the third quarter compared to the end of the second quarter of 2020 decreased by 6%. Since the beginning of the year, the hryvnia has devalued by almost 20%.

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