The Deputy head of the NBU explained why the hryvnia falls and what happens before the election
The Deputy head of the NBU explained why the hryvnia falls and what happens before the election
© National Bank of Ukraine
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Over the past month, the dollar in Ukraine has risen on the hryvnia.
Ukrainian hryvnia influenced by seasonality. This is evidenced by the experience of the last four years. This is what affects its rate in the foreign exchange market.
This broadcast of “Radio HB” said the Deputy Chairman of the National Bank of Ukraine Oleg Churiy.
“Seasonality is dependent on the agricultural period. We are an agricultural country. Today about 45% of export is agricultural products. Ukraine exports grain. Ukraine is No. 2 in corn exports. The first place we occupy in the export of sun oil. When it exports, it is revenue. On the other hand, you need to understand that Ukraine has an economy that is not fully on the light side. In particular, a large part of the agricultural sector is in the shade,” explained Cury.
He recalled that in 2016 the fluctuations of the hryvnia began in September, last year – in August, this year in July.
“The reason is simple. Course important to business and the public. They (the business) looked at this and realized that reason to wait Sep no, so I bought the currency in August. I think that this year happened the same situation. Here we see the psychological impact. I wouldn’t call what is happening today, panic, but there is a certain nervousness. Fluctuations are not a sign of crisis,” – said the Deputy head of the NBU.
The growth rate of the Euro is influenced by quite different factors.
“All the other courses are derived from the dollar. In recent years, the emerging markets, the situation is quite unstable. For the month, the hryvnia depreciated by somewhere in the 4%, but the South African currency devalued by 10%,” added CORI.
See also:
The devaluation of the hryvnia. What are the forecasts for the dollar and what to do with the money
Can be fluctuations in the currency market before the elections in Ukraine to 2019.
“Of course the factor of the elections will play an increasingly important role. This will create anxiety among the business among investors as to which direction Ukraine will go in the future. Before the election we always have oscillations and it really is in all countries alike,” said Curi.
Also on the currency exchange rates will affect the cooperation with the International monetary Fund from which Ukraine received the last tranche of the loan last spring.
Cure assured that the national Bank is ready to smooth out seasonal fluctuations.
“NBU is on the market, we have reserves, we bought beginning of the year currency in more than one billion dollars. We are ready to use to smooth seasonal fluctuations,” – said the Deputy head of the national Bank.
Note that the NBU was not able to satisfy the banks ‘ demand for dollars.
Videocach not to panic and to keep the earned from the devaluation
Last month, the exchangers do not have time to change the numbers on the scoreboard. Since mid-July, the hryvnia has depreciated by nearly 4%. But impaired not only torque, but also two countries that affect our economy, Russia and Turkey. The President of the United States Donald trump topple lyre at 30% only one text message in the social network. Economist Alexander Kratenko told how to keep earned from the devaluation.
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