The National Bank of Ukraine says the current hryvnia devaluation accounts for the lower proceeds of foreign currency from export earnings in January.
The press service of the National Bank of Ukraine published comments on the devaluation of the hryvnia, Ukrainian News Agency reports.
The Ukrainian central bank notes that the volatility of the hryvnia exchange rate seen in the interbank market since the start of 2017 is linked with a limited offer of foreign currency.
The statement reads that the offer of foreign currency is lower than the offer in previous months when Ukraine earned from exports of crop species.
At present, the metallurgical industry is becoming the major source of export earnings in Ukraine, as the world environment for the industry is favorable - the prices of steel and iron ore are growing.
The National Bank of Ukraine says it is ready to carry out foreign currency interventions to mitigate the excessive volatility of the national currency. The central bank says it has enough instruments for this.
As Ukrainian News Agency earlier reported, on Friday, January 13, the National Bank of Ukraine invited an auction for the sale of up to USD 100 million in the interbank foreign currency market.
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