President, NBU chief, discussed currency market

17:31, 17 August 2006
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NBU purchased over one billion dollars

Victor Yushchenko and National Bank Chairman Volodymyr Stelmakh have discussed tendencies and prospects of Ukraine’s currency market.

      They agreed the new government should try to preserve economic growth achieved by the cabinet of Yuriy Yekhanurov. The President admitted more and more people took long-term loans, which indicates their revived trust in Ukrainian banks and the national currency. He urged the chief banker to give more loans to those who launch social, agricultural and energy projects.

      When discussing investment policy, Mr. Yushchenko and Mr. Stelmakh agreed that investors were particularly attracted to Ukraine by the stable hryvnya.

      The NU chairman told him the National Bank had purchased over one billion dollars over the past two months to preserve the stable currency exchange rate. He added Ukraine’s currency reserves had thus considerably increased.

      They also discussed events the National Bank was planning to mark the tenth anniversary of the Ukrainian currency, hryvnya.

      Mr. Stelmakh said, introduced by Victor Yushchenko, the hryvnya helped restore the functions of the national currency as an important state attribute, boosted investment and promoted the development and stability of the national economy.

He characterized that monetary reform as impeccable.

      The banker added the jubilee was a great occasion to remember the history of our money.

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