The National Bank spent a record amount over the past week to prop up the hryvnia

During the week of March 16–20, 2026, the National Bank of Ukraine sold $1,344.35 million on the interbank market to stabilize the national currency. 

According to the publication Minfin, this figure set a record since the beginning of the current year, while the regulator completely refrained from buying currency during this period. Compared to the previous week, the volume of net sales increased by $307.03 million, indicating growing demand for foreign currency in the domestic market.

In total, since the beginning of 2026, the NBU has sold over $9.6 billion on the interbank market without conducting a single purchase transaction. This activity by the regulator comes amid an escalating geopolitical situation, Russian military operations in eastern Ukraine, and instability in global energy markets due to the conflict surrounding Iran. Supporting the hryvnia exchange rate remains a priority for the country’s financial stability amid ongoing aggression and economic pressure.

Dynamics of NBU interventions in March 2026:

• Net currency sales over the past week: $1,344.35 million.

• Increase in sales volume compared to last week: $307.03 million

• Total currency sold since the beginning of the year: $9,680.18 million.

• Volume of currency repurchased from the market: $0.

The increase in reserve outflows is driven by the need to smooth out excessive exchange rate fluctuations caused by both war-related risks and logistical challenges faced by exporters. While the U.S. and the U.K. are stepping up pressure on Russia’s “shadow fleet,” Ukraine’s financial system continues to adapt to wartime conditions with the support of international partners. Experts note that the current level of gold and foreign exchange reserves allows the NBU to continue effectively managing the situation in the foreign exchange market.

Earlier, the dollar set a new all-time high and broke through a psychological barrier.