- The interbank market is also relatively balanced such that the NBU had to sell only US$122m of hard currency and bought almost US$198m.
- ICU view: The NBU’s moves to balance the cash FX market did not restrain the weakening of the hryvnia cash exchange rate.
- At the same time, a significant difference between the official and cash exchange rates is likely to activate the flow of hard currency from the non-cash to the cash segment, probably through gray channels.
ICU Weekly Insight: 22 August 2022
