Photo from UNIAN
Ukraine has a floating exchange rate, which is influenced by many different factors.
Deputy Governor of the National Bank of Ukraine (NBU) Oleh Churiy has said current fluctuations of the national currency of Ukraine on exchange market are not directly related to the presidential elections in the country.
Read alsoNational Bank announces next steps to ease forex regulation in Ukraine
"It has nothing to do with the elections," he told UNIAN, answering the question whether the presidential elections are the reason for various fluctuations of the hryvnia forex rate this week.
He reiterated Ukraine has a floating exchange rate, which is influenced by many different factors. "Fluctuations may be due to the fact that the 'T+1' standard (preliminary reservation of hryvnia funds for the purchase of foreign currency) has been removed, and now buyers often enter the market in the afternoon. The arrival of non-residents in the Ukrainian government bonds and the repatriation of dividends also play a role," Churiy said.
He admits until the elections are over, they will have some psychological effect on the market. "But we cannot say that these fluctuations are directly related to the elections," Churiy added.
As UNIAN reported earlier, the National Bank of Ukraine on Wednesday evening weakened the official hryvnia exchange rate by 11 kopiykas, bringing the national currency to UAH 27.08 to the dollar.