NBU commented on the situation on the currency market after the elections

В НБУ прокомментировали ситуацию на валютном рынке после выборов

NBU commented on the decline of the dollar

The head of the National Bank of Ukraine stated the situation is largely not typical for the previous few years.

The head of the National Bank of Ukraine Bohdan Danylyshyn sees no connection between the elections and the exchange rate. On Tuesday, April 2, the official wrote on his page on the social network Facebook.

So, the next day after the first round of presidential elections in Ukraine, the hryvnia has strengthened significantly on the interbank market against the dollar and against the Euro, the Ukrainian hryvnia has risen by 30 cents. According to Danylyshyn, this coincidence, which has nothing to do with elections.

At the same time, he noted that this year with the exchange rate, a situation largely not typical for the previous few years.

“In particular, we do not see a temporary but significant devaluation of the hryvnia, which started in December and lasted most of January (2016-2018), sometimes touching and February (in 2015). Probably the key role played by the even spending of budget funds at the end of the year, which was the first time in the last 5 years. The most egregious case of aggressive budget spending was in 2017, when in December the balance on the single Treasury account of the government decreased by 10.6 times. Bringing the official exchange rate of hryvnia to the dollar from 1 December 2017 to 24 January 2018 declined by 6.3%, making a significant contribution to the high CPI inflation of January-March of last year,” writes he.

Earlier in the NBU reported that the risks to the stability of the financial system of Ukraine has decreased.


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