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$130.5mn at auction to further defend the currency. The hryvnia lost 3.7% in the first week and weakened to UAH25.8/US due to the pressure from locals, with some added by foreigners' withdrawal of funds from local-currency bills. The hryvnia is expected to further weakening to around UAH27/US$.
No foreign exchange curbs are planned by the central bank, Oleh Churiy,
another deputy governor, told reporters on March 17. "The NBU does not consider imposing any restrictions,” he said. “We believe that the banking system is liquid.” Addressing the shortage of dollars and euros, he said: “In coming days, a large amount of cash foreign currency is expected to be delivered.” Similarly, the bank’s website reported: “Due to the termination of air travel and the closure of borders, cash dollars and euros are being delivered to Ukraine with a delay.”
38​ UKRAINE Country Report​ April 2018 ​ ​www.intellinews.com