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Due to quarantine, the outflow of foreign currency from the country has decreased, which reduces the pressure on the forex market.
No prerequisites are in place for Ukraine's national currency hryvnia to weaken to UAH 30 per U.S. dollar, Minister of Finance Serhiy Marchenko believes.
Neither does he see any instruments that someone could apply to influence the rate in this regard, the Cabinet's press service reports citing Marchenko's interview with Focus magazine.
Due to quarantine lockdowns, imports decreased by 18%, while exports slid by only 6%, Marchenko has noted.
"It actually normalized the government's balance of payments. The outflow of foreign currency from the country has decreased, which reduces the pressure on the foreign exchange market," the minister said.
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He stressed that the country needs a hryvnia exchange rate that ensures macroeconomic stability.
"If there are grounds for revaluation or devaluation, such processes should move gradually, without creating shockers on the market,” Marchenko said.
The National Bank of Ukraine for Friday, August 14, set hryvnia at UAH 27.41 to the U.S. dollar, thus strengthening the national currency by 12 kopiykas against the previous day.