Ukrainian national currency was under devaluation pressure in late May amid deteriorating external financial conditions for countries with developing markets and increasing uncertainty in the country.
According to the Macroeconomic and Monetary Survey of the National Bank, the hryvnia was moderately strengthened in May due to the significant supply of currency in the market.
The National Bank recalled that the favorable situation in the market at the beginning of May allowed the regulator to replenish international reserves by buying almost USD 167 million, and to introduce regular measures to ease foreign exchange regulation, including raising the limit on repatriating dividends, canceling export deadlines operations and simplification of the procedure for obtaining currency licenses for individual market participants.
As The Journalist reported, National Bank transferred UAH 47.6 bln to state budget.
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