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The National Bank of Ukraine hiked its FX interventions to nearly the maximum level this year and kept the hryvnia exchange rate broadly unchanged by the end of the week.
The regulator will maintain this rate at least until the January 29 meeting, citing uncertainty over external financing for 2026-2027 as the primary reason for postponing monetary easing.
The Ukrainian parliament approved the 2026 state budget last week. The deficit is planned at UAH1.9trn, an equivalent of US$46bn at the current exchange rate, or 19% of GDP.
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