The NBU explained the reasons for the fall of the hryvnia and asked not to worry

16 June 2015 16:06  47101378 0102398
The NBU explained the reasons for the fall of the hryvnia and asked not to worry

The fall of the hryvnia exchange rate from 21.05 hryvnia to the dollar to 22 hryvnia to the dollar over the past few days is caused by the dynamic flow of foreign currency into the country and is not a reason for concern about the monetary stability.

This was announced by the deputy head of the National Bank of Ukraine Oleg Churiy at the business forum in Kyiv, the UNIAN reported.

"One day, there may be more currency, on another - there may be less. Last week we bought the currency, because we had more foreign exchange earnings," - he said.

According to Churiy, the NBU adheres to a floating exchange rate strategy in which such fluctuations are normal.

"We have no desire to keep the exchange rate fixed. Currently, we have a floating exchange rate with rather wide range - 21-23 hryvnia to the dollar. It's 10%. We don't mind fluctuations within these limits", - the deputy head of the NBU said.

Churiy also noted that the National Bank together with the IMF had developed a plan to lift restrictions on the foreign exchange market, which is not limited in time and depends on certain macroeconomic indicators.

As reported, on Tuesday, June 16, quotes of the hryvnia against the US dollar in the interbank foreign exchange market were set at 22,25-22,65 hryvnia to the dollar, down 1.5 hryvnia versus the quotes at the opening of trading on Monday.

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