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NBU not sees prerequisites for hryvnia devaluation

Posted by the Editor on January 21, 2014


News / 21 January 2014 | 10:55

NBU not sees prerequisites for hryvnia devaluation

NBU not sees prerequisites for hryvnia devaluation

The reduction of prices for imported gas and Russia’s opening a credit line will relieve devaluation pressure on the hryvnia, deputy head of the National Bank of Ukraine (NBU) Oleksiy Tkachenko said at a round table in Kyiv.
“Now the trend is that the market itself is able to balance supply and demand. There are no real prerequisites for a hryvnia devaluation,” he said.
“The regulator has all possibilities for supporting [the hryvnia]. Neither the banking system nor the economy as a whole will accept sharp fluctuations in the exchange rate,” Tkachenko added.
According to him, the National Bank is constantly monitoring the situation on the interbank market.
Tkachenko noted that the peak exchange rate, recorded in 2014, was due to the statement about instability previously announced by politicians. “We should note the wisdom of our population, which is less prone to panic,” he said.

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