The Council of the National Bank of Ukraine has declared actions of the NBU's Board in execution of the currency and exchange policy ineffective. NBU's Council Head, Bohdan Danylyshyn, has written this on Facebook, Ukrainian News Agency reports. According to the report, the NBU's Council has considered the issue entitled On state of the international reserves of the NBU and the situation on the foreign currency market of Ukraine. In compliance with the December 5 decision of the central bank, the NBU's Council provided its recommendations to the Board as for the state of the international reserves of the NBU and the situation on the foreign currency market of Ukraine in compliance with Item 13 of Article 9 of the Law of Ukraine On National Bank of Ukraine. In particular, the NBU's Council recommends: utilize all the tools and methods of the monetary policy in order to dampen the monetary policy of the NBU; update the strategy for management of the international reserves and the schedule of their replenishment in the mid-term; prepare and present to the Council the scenario of situations on the foreign currency market of Ukraine as a result of possible withdrawal of non-resident owners of government domestic loan bonds from Ukraine and the action plan of the NBU as for the exchange rate formation mechanism and foreign currency regulation for the case of its implementation. As Ukrainian News Agency earlier reported, on November 14, the NBU's Council re-elected Bohdan Danylyshyn as its chairperson.