The Ukrainian currency market at the beginning of June demonstrates a steady trend towards the strengthening of foreign currencies. The US dollar has updated another local maximum, while the euro continued to grow for the second day in a row. Despite these movements, experts emphasize that the situation remains stable and controlled thanks to the actions of the regulator.
New official rates for June 3
The National Bank of Ukraine (NBU) approved the official exchange rates for Wednesday, June 3. Compared to the previous banking day, the American currency increased by 4 kopecks. Now the official exchange rate of the dollar is 44.34 UAH for 1 US dollar.
The European currency also shows positive dynamics. The official exchange rate of the euro is set at 51.66 UAH, which is 7 kopecks higher than the day before. Thus, both major world currencies continue a moderate growth, forming a new price reality for the Ukrainian market.
The mechanism of "managed flexibility": how to curb spikes
Despite the presence of risks and the natural desire of the population and businesses to hedge assets, the basic scenario for the development of events remains moderate. The key role in this is played by the regime of "managed flexibility", which continues to operate in Ukraine.
Taras Lesovoy, Director of the Financial Markets and Investment Activities Department of "GLOBUS BANK", explains the essence of the mechanism: it allows the National Bank to promptly smooth out imbalances. In periods of increased demand for currency, the regulator has the opportunity to conduct currency interventions, which helps to avoid sharp spikes in the exchange rate and maintain a balance between supply and demand.
Connection between the interbank and cash markets
The effectiveness of the NBU's work is confirmed by the stability in different segments of the market. According to the expert, one of the features of the current system is the close interconnection of the interbank and cash markets.
That is why, in the absence of serious distortions in the interbank market, the cash segment also does not demonstrate sharp fluctuations. The mechanism continues to work effectively, keeping the situation under control even in conditions where demand for currency may increase.