According to the National Bank of Ukraine (NBU), on 4 November the regulator conducted preventive operations exchanging banks’ non-cash foreign currency for cash to replenish banks’ cash holdings. Demand for such operations from banks remained moderate.
Results of operations on 3–4 November
As of 3–4 November 2026 the amount of currency offered within the operations exceeded banks’ actual demand by more than threefold. The operations carried out on 4 November aimed to ensure the availability of cash foreign currency in bank tills.
The NBU noted that money should circulate, and such preventive operations support the cash foreign-currency liquidity of the financial system at an appropriate level to meet citizens’ needs. Demand for tills replenishment remained moderate, so supply exceeded actual requests.
Exchange rates and the NBU’s further plans
The official hryvnia rate, calculated on 4 November for the following day, strengthened to 45.5 UAH/USD (the official rate is the rate set by the NBU for settlements). The dollar selling rate in the cash segment as of 04 November stood at 46.4 UAH/USD.
“The National Bank is ready to continue making efforts to maintain the resilience of the foreign exchange market. Despite the absence of systemic problems with the physical availability of cash foreign currency in banks, the NBU plans to carry out such operations on 5 November as well. This preventive decision will, if necessary, support the cash foreign-currency liquidity of the financial system at an appropriate level to meet the needs of Ukrainians,” the regulator said.
What to watch in the coming days
In the coming days, attention should be paid to the NBU’s official rate and cash-segment quotations, as well as to the dynamics of supply and demand for cash currency. The interbank market (the market where banks trade currency with each other) can also affect the overall situation on the foreign exchange market.
If the NBU continues such operations or resorts to interventions (operations to buy or sell currency on the market), this will affect cash liquidity in banks’ tills and the availability of cash currency for the public. Therefore, it is worth monitoring the regulator’s announcements and the official rates on a daily basis.
