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28.8 29.4
Economy 2018-10-15T05:24:38+03:00
Ukrainian news
NBU Explains Interbank Market Hryvnia Drop With Political Tension

NBU Explains Interbank Market Hryvnia Drop With Political Tension

The National Bank of Ukraine explains the drop of the hryvnia's exchange rate at the interbank market with the political tension in the country.


The press service of the National Bank of Ukraine announced this in a statement citing NBU Deputy Governor Oleh Churii, Ukrainian News Agency reports.

"The interbank forex market continues to be under the pressure of the political instability this week in spite of existence of favorable fundamental external factors. Although Ukraine continues to get essential proceeds from exports of grain and fats and the prices of steel and iron ore in the international markets renewed growth the aggravation of the political instability causes nervousness in the forex market and negate the effects of these favorable factors," reads the statement.

The National Bank of Ukraine stresses that further destabilization of the political situation poses a threat of fluctuations of the hryvnia and negative consequences for the economy of Ukraine.

The National Bank of Ukraine closely follows the development in the forex market. The National Bank of Ukraine has enough reserves to mitigate possible excessive fluctuations of the exchange rate when necessary.

As Ukrainian News Agency earlier reported, on Tuesday, November 15, quotations in the interbank foreign currency market reached 25.96-26.01 UAH/USD as at 11:30.

Dealers explain the falling of the hryvnia's exchange rate at the interbank market with the political tension in the country.

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