Weekly Insight -- NBU does not prevent hryvnia weakening
Last week, hryvnia continued to weaken even though NBU FX interventions were the largest since the beginning of January.
The NBU sold US$695m from international reserves last week, the largest volume of interventions in more than three months (a larger amount, US$790m, was last sold in the first week of the year). We estimate the largest volume, approximately US$215m (nearly a third of the weekly volume), was sold last Friday.
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