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Economy 2019-02-15T05:00:48+02:00
Ukrainian news
NBU: September Devaluation Of Hryvnia Accounts For Speculations In Media And Growing Imports

NBU: September Devaluation Of Hryvnia Accounts For Speculations In Media And Growing Imports

The National Bank of Ukraine says the devaluation of the hryvnia in September accounted for speculations in mass media and the growing imports.

NBU deputy governor Oleh Churii said this at a meeting with top management of Ukrainian major banks, Ukrainian News Agency reports.

He says the delayed financing from the International Monetary Fund does not affect the market.

"Since the start of 2017 exports have grown by more than 20% and the pace of export revenues is much better than we expected. At the same time imports are growing because of the acceleration of the economy. Moreover, speculations in mass media regarding expected devaluation of the hryvnia this fall have influence on expectations of the population and people increased purchases of foreign currency in September regardless of the trend seen since the start of the year," he said.

He confirmed the intentions of the National Bank of Ukraine to continue gradual liberalization.

The central bank is completing work at recommendations received from businesses on legislative amendments required for the transition to the liberal currency regulation.

"We want to present the finalized bill on currency in the near future," he said.

As Ukrainian News Agency earlier reported, the hryvnia devaluated in the interbank market from 25.70 UAH/USD on September 1 to 26.47 UAH/USD.

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