The hryvnia has led the list of currencies which strengthened against the dollar

The hryvnia has led the list of currencies which strengthened against the dollar



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The NBU does not plan to change its monetary policy until curb inflation.

The hryvnia is the currency-a world leader in strengthening against the U.S. dollar in the first half of this year. This trend continues despite the fact that in many emerging markets the opposite is true.

About it writes Bloomberg.

Strengthening is 7.7% against the dollar. The Ukrainian national currency surpassed in the rankings for Georgian lari Colombian peso.

The publication notes that the strengthening occurs on the background of the problems in the national economy and monetary policy, the intensification of the war on the territory of Eastern regions of Ukraine, the lack of international financial support. The interest rate of the National Bank of Ukraine increased to 17% due to double-digit inflation, the taming of which has just begun.

In turn, the NBU stated that the rate will not decrease until that is fixed by strong inflation. “Tight monetary policy will allow us to return inflation to the target in the middle of next year, and not before”, – said the Deputy Chairman of the National Bank of Ukraine Oleg Churiy.

Curi responsible for monetary policy of national Bank, the key aim of preventing dependence on short-term capital to Finance current account deficit. “It’s quite dangerous because if you have negative sentiment, investors are simply leaving the market, creating huge pressure on monetary policy and the exchange rate. But this is not the case of Ukraine”, – said the banker.

Bloomberg also reported that with the fall of 2017, the Ukraine has managed to attract approximately $ 550 million “hot capital”, of which about 200 million dollars received during a situation when emerging markets began to compress. “It’s a completely different story compared to other developing markets,” said Curi.

  • inflation
  • NBU
  • the hryvnia

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