Ukraine's central bank buys $70.8mn at forex auction

KIEV: The National Bank of Ukraine bought $70.8 million from banks on Thursday, one of the largest amounts in recent weeks, after a weeklong break in the central bank's auctions on a market which sees the local currency firming.

On Thursday, the bank said it would buy up to $100 million, accepting bids at an exchange rate between 24.8150-24.8300 hryvnias per dollar.

Banks offered $81.4 million. At its last auction on June 22, the central bank bought $22.4 million at 24.89-24.90 per dollar.

Meanwhile, the hryvnia's average rate on the interbank market firmed to 24.8242 from 24.8544 per dollar in the previous day.

The central bank has bought $429.6 million since early June, following its requirement to banks to sell part of their foreign exchange earnings.