The National Bank sold $691 million on the interbank market in the last week of October
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- The National Bank of Ukraine sold $691.5 million on the interbank FX market in the week of Oct. 27–31, marking the third consecutive weekly increase in interventions. Since the start of 2025, it has sold about $28.6 billion and bought $40.35 million, after selling $35.3 billion in 2024.
- The NBU says it is using international aid to offset a structural FX deficit and keep the exchange rate stable, expecting future support mainly via a reparations loan backed by immobilized Russian assets. This is intended to finance the budget deficit from non-monetary sources and preserve reserves at adequate levels.
- Non-participating transactions averaged 58% of interbank FX turnover in Q3 2025, up 14 percentage points year-on-year and double the share at the start of managed exchange-rate flexibility in 2023. The NBU interprets this as evidence of a growing capacity of the FX market to self-balance.
This week (October 27 – October 31), the National Bank of Ukraine sold $691.5 million on the interbank foreign exchange market. This data is published on the NBU website in statistics on the results of foreign exchange interventions.
The growth of currency sales is observed for the third week in a row.
Since the beginning of 2025, the NBU has sold almost $28.6 billion on the interbank market and bought $40.35 million.
In 2024, the National Bank of Ukraine sold $35.3 billion on the interbank market and bought $126.3 million.
The NBU maintains the stability of the foreign exchange market by compensating for the structural deficit of foreign currency through international aid.
The National Bank expects that financial assistance will continue in the coming years, primarily through a reparations loan based on immobilized Russian assets. This will allow the budget deficit to continue to be financed from non-issue sources and international reserves to be kept at an adequate level sufficient to maintain the stability of the foreign exchange market.
According to the NBU, the average share of non-participating transactions in the total volume of transactions on the interbank foreign exchange market was 58% in the third quarter of 2025. This is 14 percentage points more than in the same period of the previous year and twice as much as at the time of the introduction of managed exchange rate flexibility in 2023.
The NBU believes that such dynamics indicate a gradual increase in the FX market's ability to self-balance.
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