NBU recorded inflation of 8.1% and currency sales of $5.5 billion in September

The National Bank of Ukraine recorded a deterioration in business sentiment and economic activity in August-September amid intensified Russian attacks and the blockade of ports. Inflation in Ukraine accelerated to 8.1% year-on-year, driven by rising fuel prices. In September, the NBU increased currency sales to $5.5 billion. Economic growth in Ukraine's partner countries accelerated slightly, but the risks of a slowdown remain. Global inflationary pressure is increasing due to high energy prices, although they have slightly decreased thanks to the resumption of supplies from the Middle East. The state budget deficit in September remained high, and the volumes of external financial assistance were below expectations. Ukraine's international reserves amounted to $48.7 billion as of September 1. The increase in the NBU's key interest rate to 16% enhanced the attractiveness of hryvnia instruments, with the volume of term deposits in hryvnia rising by UAH 3.2 billion. The hryvnia exchange rate remained stable, fluctuating within a narrow range.

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