National Bank of Ukraine ups hryvnia's official exchange rate by 0.08% on Monday

MOSCOW. Dec 26 (Interfax) - The National Bank of Ukraine (NBU) on Monday raised the hryvnia's official exchange rate by a further 0.08%, or three kopiykas, to 37.5225 hryvnia/$1, Ukrainian media said, citing the regulator's website.

The reference value of the hryvnia exchange rate set by the NBU at midday gained a little more than three kopiykas on Monday, reaching 37.5747 hryvnia/$1.

Unlike Ukraine, Western markets, including in the United States and Europe, were closed on Monday due to Christmas Day. Consequently, trading there was not particularly active, with all transactions to be settled after the holidays.

The U.S. dollar on Ukraine's forex market has gained a total of 1.4%, or 50 kopiykas, since Monday, and approximately 4.2% since November 26, when a tendency toward a weaker hryvnia took shape.

However, thanks to the hryvnia's strengthening immediately after the NBU's switch over a "managed flexibility" exchange rate on October 3, the U.S. dollar's actual appreciation against the hryvnia's fixed exchange rate, which was in effect for more than 14 months, was 2.6%, or 95 kopiykas.

Meanwhile, the U.S. dollar rose insignificantly - by eight kopiykas to 38.20 hryvni/$1 - on the cash market on Monday.

As reported, the NBU's net forex sales dropped to $2.46 billion in November from $3.34 billion in October and $2.69 billion in September. A reduction in external financing to $2.04 billion caused Ukraine's international reserves to decrease for the fourth consecutive month - by 0.5%, or $187.8 million, to $38.785 billion.