Recently, the dynamics of the hryvnia exchange rate in the interbank foreign exchange market is determined by the key time factor - the traditional late-month VAT refund to the business by the Ministry of Finance, as Director of the Open Market Department Sergei Ponomarenko reported to Interfax-Ukraine.

"Over the past three days, the volume of such payments amounted to 6.9 billion UAH. After receiving the refund, the exporters usually reduce the currency supply on the market, as their needs in the hryvnia temporarily decrease significantly", he said.

According to Ponomarenko, the National Bank continues to closely monitor the development of the situation in the foreign exchange market and is ready to continue implementing foreign exchange interventions in order to avoid sharp "jumps" in the exchange rate.

At the same time, he reminded that the task of the central bank is not to keep the hryvnia rate at certain level, but to reduce its volatility, which could negatively affect the target inflation level.

"If the factors that have developed in the economy form pressure on the weakening or strengthening of the exchange rate, the course should move in the appropriate direction, and the National Bank does not oppose this movement", Director of the Open Markets Department of the regulator said.

Ponomarenko also said that NBU has sold $422 million in the interbank foreign exchange market since the beginning of the month. At the same time, on August 20, on the background of strengthening the hryvnia, the NBU bought out $ 16.7 million on the foreign exchange market.