KYIV, Dec 21 - The weakening of the hryvnia in recent days is due to an increase in demand for foreign currency, said Deputy Head of the National Bank of Ukraine (NBU) Serhiy Nikolaychuk.

“In December, net demand for foreign currency continued to grow, and in response to this situation, we began to sell more on the market. At the same time, and in accordance with the declared principles, we began to allow the exchange rate, firstly, to weaken, and then over time, even as this demand increased, they began to allow it to weaken further,” he said on Thursday, speaking during the presentation of a review of macroeconomic forecasts for 2024 from the Center for Economic Strategy.