The weakening of the hryvnia does not threaten the attractiveness of hryvnia assets and preventing inflation, said Sergei Nikolaychuk.
The situation in the Ukrainian foreign exchange market does not cause concern for the National Bank about inflation targets and the attractiveness of hryvnia savings. The Deputy Head of the NBU Sergei Nikolaychuk said this in an interview with Forbes Ukraine on Wednesday, March 20.
“In our opinion, the situation in the foreign exchange market remains fully controlled. Our exchange rate fluctuates both in one direction and in another. Yes, in fact, in recent weeks we have seen further weakening of the value of change,” he noted.
Nikolaychuk recalled that the dynamics of the exchange rate is determined by changes in the balance of supply and demand for money in the market.
“And now, the dynamics, which, in our opinion, are fully consistent with our goals of ensuring the attractiveness of the hryvnia. Our hryvnia instruments remain attractive considering the current level of inflation, the expected level of inflation. Also, these dynamics do not raise our goal of maintaining relatively low inflation this year,” added the deputy head of the National Bank.
As you know, in recent days the dollar exchange rate has increased by about 1 Hryvnia. And the official exchange rate of the NBU on March 20 crossed the 39 hryvnia mark for the first time.
Also last week, the National Bank significantly increased the sale of foreign currency in the interbank market. In total, nearly $4.6 billion has been sold since the beginning of the year.
Source: korrespondent
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