Central Bank decided to change hryvnia exchange rate
As the currency supply in Ukraine significantly exceeds the currency demand
“The official hryvnia exchange rate (against US dollar) will change towards the direction of its strengthening. It is caused by the fact that the currency supply in Ukraine significantly exceeds the currency demand”, top deputy National Bank of Ukraine chief Anatoliy Shapovalov told Delo weekly. Previously the central bank changed the hryvnia appreciation three years ago – in April of 2005.
The banker did not specify to which extent they will strengthen the hryvnia, but noted that it will happen in the nearest future. “Considering that the central bank did not take part in the sales, the market formed the exchange rate itself. In April it made up 4.93 hryvnias for a US dollar on average, and in May it was even lower. Nothing will happen if we just approach the official hryvnia exchange rate to that level”, he said.