Date: 2 months ago   Category: Financial

The NBU stated the reasons for a collapse of hryvnia at the end of May


The hryvnia sank in the last week of May because of effect of the trade conflict of the USA and China strengthened by internal instability. Depreciation of hryvnia at the end of May in National bank is explained with the fact that the trade conflict between the USA and China worsened a situation in the international commodity markets and negatively affects the financial markets of developing countries, and in case of Ukraine the situation is complicated by increase in internal instability. "Against the background of deterioration in external financial conditions for the countries with emerging markets and also strengthenings of uncertainty in Ukraine, at the end of the month the hryvnia was under devaluation pressure", – it is said in the macroeconomic and monetary review for May. Describing a situation in foreign markets, the regulator indicates low demand in the majority of the regional markets. In particular, in the European market of gas price fell to a minimum of 2016, also drop in oil prices and steel was observed. At the same time the NBU noted that in general following the results of May the national currency fell in price less, than for 1%, and the Central Bank could redeem in the foreign exchange market $167 million in reserves thanks to strengthening of hryvnia in the first three weeks of month. The National Bank reminds that in April of the current year the nominal exchange rate and a real exchange rate became stronger in comparison with March for 0.7% and 1.2% respectively, and in a year – respectively for 6.5% and 11.4%. Let's note, for the last week the hryvnia lost 52 kopeks (almost for 2%), having fallen in price up to 26.85 for dollar. Today the cash dollar began to become cheaper. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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