Page 58 - UKRRptApr24

7.0 FX
Ukraine FX
Mar 2023
Apr 2023
May 2023
Jun 2023
Jul 2023
Aug 2023
Sept 2023
Oct 2023
Nov 2023
Dec 2023
Jan 2024
Feb 2024
Mar 2023
Currency (units per EUR) (average)
39.39
40.48
40.48
40.14
40.14
40.26
39.38
39.08
40.70
38.095
40.995
38.086
39.22
Currency (units per USD) (average)
36.81
36.85
36.83
36.90
36.90
36.92
36.92
36.12
37.20
42.074
37.737
41.298
42.3
source: NBU
The NBU predicts the stabilization of Ukraine’s FX market. The National Bank has reported that the upcoming arrival of international financial assistance should contribute to maintaining the stability of Ukraine's foreign exchange market. As noted in the message, at the end of February, the EU Council approved the launch of the Ukraine Facility, which will provide €50B for 2024-2027. Within its limits, in March-April, Ukraine should receive transitional financing in the amount of €6B. "In general, Ukraine can receive more than $10B in March-April. This will increase the volume of international reserves to a record level, which will strengthen the NBU's ability to ensure exchange rate stability and maintain moderate inflation," the report said. The NBU notes that after a temporary December spike in net demand on the foreign exchange market, the pressure on international reserves significantly decreased from January to March. This was primarily facilitated by more moderate budget expenditures and a faster-than-expected increase in the capacity of the sea corridor, which ensured the expansion of exports.
58 UKRAINE Country Report April 2024 www.intellinews.com