The NBU explained why the cheaper dollar

nbu 2

Offer on the interbank market exceeds the demand.

The dollar depreciates in Ukraine, despite the crisis, due to falling demand, said on Thursday, June 11, head of the National Bank Jacob Smoliy, reports the with reference to the Correspondent.

According to him, from the beginning of April the supply of currency on the interbank market exceeds the demand.

At the same time, imports in almost all categories of goods remain lower than in the pre-crisis level, but exports are reduced less significantly.

“As a result, the hryvnia strengthened, and the national Bank, taking advantage of a favorable situation, from the beginning of April bought in international reserves of about 1.8 billion dollars,” he said.

Resin also said that in addition to the decision to reduce the discount rate to 6%, the national Bank narrows interest rate corridor on tools permanent access “discount rate +/- 2 percentage points” to “discount rate +/- 1 percentage point”.

“This means that when a new discount rate of refinancing loans overnight will be provided at 7%, and certificates of Deposit overnight razmeschatsya under 5%. Change the width of the corridor will allow to achieve the operating target of monetary policy, which is the content of hryvnia interbank rates close to the key rate within the corridor of interest rates on instruments of a permanent access”, — he explained.

Next time the Central Bank will consider rate at the end of July.