{"id":45412,"date":"2026-09-18T15:51:44","date_gmt":"2026-09-18T12:51:44","guid":{"rendered":"https:\/\/ces.org.ua\/?p=45412"},"modified":"2026-09-18T16:07:12","modified_gmt":"2026-09-18T13:07:12","slug":"nbu-foreign-exchange-interventions","status":"publish","type":"post","link":"https:\/\/ces.org.ua\/en\/nbu-foreign-exchange-interventions\/","title":{"rendered":"Why the NBU is spending billions to support the hryvnia"},"content":{"rendered":"<p>Since the beginning of the year, the National Bank has injected over $35 billion into the foreign exchange market\u2014roughly the same amount as in the entire previous year. In addition to direct interventions in the interbank market, the NBU also sells $30\u201340 million daily in the non-bank market to fund the purchase of military equipment.<\/p>\n<p>The primary reason for the difficult situation in the foreign exchange market\u2014which has forced the NBU to conduct large-scale interventions for several consecutive months\u2014is Ukraine&#8217;s high trade deficit.<\/p>\n<blockquote><p>Demand for foreign currency is rising due to winter preparations and post-damage recovery efforts, which rely on imported products, as well as the increase in global oil prices driven by the war involving Iran, says Oleksandra Khovrak, an economist at the Centre for Economic Strategy. Inflationary expectations are also prompting es and the public to convert hryvnias into foreign currency, further increasing pressure on the foreign exchange market.<\/p><\/blockquote>\n<p>Source: <a href=\"https:\/\/finance.liga.net\/en\/state-finance\/article\/5-billion-a-month-to-keep-the-dollar-from-rising-will-the-nbu-have-enough-reserves\" rel=\"nofollow noopener\" target=\"_blank\">LIGA.net.<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since the beginning of the year, the National Bank has injected over $35 billion into the foreign exchange market\u2014roughly the same amount as in the entire previous year. In addition to direct interventions in the interbank market, the NBU also sells $30\u201340 million daily in the non-bank market to fund the purchase of military equipment. [&hellip;]<\/p>\n","protected":false},"author":20,"featured_media":45405,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[187],"tags":[576],"experts":[648],"news_type":[139],"class_list":["post-45412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-experts-in-the-media-en","tag-monetary-policy-en","experts-oleksandra-khovrak","news_type-we-are-in-media"],"acf":[],"_links":{"self":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts\/45412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/comments?post=45412"}],"version-history":[{"count":1,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts\/45412\/revisions"}],"predecessor-version":[{"id":45413,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts\/45412\/revisions\/45413"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/media\/45405"}],"wp:attachment":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/media?parent=45412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/categories?post=45412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/tags?post=45412"},{"taxonomy":"experts","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/experts?post=45412"},{"taxonomy":"news_type","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/news_type?post=45412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}