Daily Insight -- Liquidity under pressure from FX
Last Thursday, the NBU held its usual FX auction: it sold US$21.1m and absorbed about UAH0.71bn of local currency fund, causing a mild UAH0.22bn decline in liquidity to 81.43bn. Non-monetary operations injecting a net UAH0.49bn partially offset outflows. Most of the inflow came from the Treasury, but an exchange of reserves in cash and other operations decreased any positive impact.
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