NBU: everyone who buys foreign currency now will regret it

13 August 2014 10:06  4076416 077311
NBU: everyone who buys foreign currency now will regret it

NBU is ready to resort to strict administrative measures in the foreign exchange market if the situation can not be stabilized with market methods.

This was stated by the Head of the National Bank of Ukraine Valeria Hontaryeva, speaking in the Parliament - the Ekonomichna Pravda informed.

"I want to warn all those who resorted to panic that everyone who buys foreign currency at a higher rate in the informal market, will soon regret it because NBU will stabilize the system in the near future", - she said.

Hontaryeva still hopes that the rate will be stabilized with market instruments.

"If market mechanisms applied by the NBU now do not work, the National Bank will offer the market rather strict administrative measures for the time of the ATO," - the head of the NBU said.

"For now, the NBU plans to use market measures. However, we discussed with the IMF instruments of administrative measures, and we have support from the Fund," - she said.

The head of the central bank added that if she had been free of obligations to the IMF under the stand-by program, she would have used harsh measures last week.

"It is clear that there are no economic prerequisites for the rate of 13 or 13.5. We see only panic. Everyone understands that the rate has significantly deviated from its stable level, which is 11.5-11.9 hryvnia for dollar," - Hontaryeva said.

According to her, the current account deficit has almost leveled.

She predicts that the balance of payments will be surplus in August, taking into account revenues scheduled for this month. This includes $ 500 million from the World Bank and $ 1.45 billion of the next tranche from the IMF. 

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