NBU: hryvnia Decline is not associated with PrivatBank

НБУ: Падение гривны не связано с ПриватБанком

The devaluation of the hryvnia, continues to account for situational growth of demand for currency, according to the national Bank.

Devaluation pressure on the hryvnia exchange rate this week is due to the transition of PrivatBank in state property. This was stated by the Deputy head of the NBU Oleg Churiy, informs the press service of the regulator on Thursday, December 28.

According to him, the fall of the hryvnia, continues to account for situational growth of demand for currency. “The statement that the outflow of deposits from PrivatBank provokes the increased demand in the foreign exchange market does not correspond to reality,” said Curi.

According to him, 19 December the inflow of funds in other banks doubled the outflow of retail deposits from PrivatBank. In addition, he stressed that the period of their outflow lasted only three days, after which investors began to return funds to the financial institution. The outflow of corporate deposits was offset by inflows on accounts in other banks funds for a VAT refund.

CORI also added that in the cash market the volume of sales of foreign currency continues to exceed the purchase: in December, the net purchase by banks of currency from the population amounted to $34 million.

According to the NBU, the market is still influenced by temporary factors: compensation companies to exporters on past and current week VAT 12.5 billion hryvnia have limited their need for the sale of foreign exchange earnings, however, increased the demand for currency by companies who need to make payments on loans in foreign currency at the end of the year.

“In General, the fundamental prerequisites for hryvnia exchange rate fluctuations are not currently available. Market factors are favorable for the currency market: continues to receive revenue from grain exports is favourable for Ukrainian exporters the situation on the world market of ferrous metals and iron ore,” – said in comments the NBU.

Recall the dollar on the interbank market on December 28 exceeded 27 hryvnia.