Devaluation of the hryvnia caused only by internal factors – expert

17:43, 23 September 2008
Ukraine
1992 0

For instance, periods of active import or export

Devaluation of the hryvnia was caused only by internal factors. Lyudmyla Shmalchenko, deputy chief of PryvatBank board, said this to UNIAN.

According to her, recently, when the Ukrainian currency began to decrease in the exchange value against US dollar, the dollar itself also yielded its positions at the world market.

“The exchange rate fluctuations are connected with periods of active import or export of commodities, in particular, purchase of energy carriers or sale of grain, because all the currency goes to the interbank market”, L.Shmalchenko pointed out.

As UNIAN reported earlier, a swift growth of the US dollar against the Ukrainian national currency took place on the interbank market in Ukraine on September 18. The hryvnia cash exchange rate against the dollar in Kyiv topped UAH 4.94/$1 at 12.00 on September 17. At the same time, the Ukraine’s central bank did not intervene the market because the exchange rate did not exceed the corridor established by the Main Principle of Monetary Policy (for the year 2008 – UAH 4.85/$1 + - 4%).  Since Sept 18, the cash hryvnia exchange rate varied in Kyiv from UAH 4.86/5.05 per $1 [purchase and sale respectively], and from UAH 6.90/7.25 per EUR 1.

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