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Future of Ukrainian hryvnia

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Ukraine's Finance Ministry does not see external reasons for the depreciation of the hryvnia exchange rate against the dollar, Acting Finance Minister Ihor Umansky told the press on Thursday.

"There are no external reasons or economic factors in the present situation on the currency market," he said.

He said that National Bank of Ukraine (NBU) should take the situation under control and there the central bank has the opportunities and instruments to do this.

Umansky said that "certain market players have the chance not to behave in a market way."

He said that three factors have led to the present destabilization on the currency market: expectations of a worsening of the economic situation in Ukraine, panic and currency speculation.

Umansky also said that the opinions of some experts that the hryvnia devaluation is linked with purchase of dollars by National JSC Naftogaz Ukrainy are speculative.

Written by: Sashko Friday, 04 September 2009 17:58