National Bank says when market becomes balanced

Wednesday, November 12, 2014 - 16:46 (EET) Section: Latest news

The balanced hryvnia rate will be found, when the dynamics of its price reduction stops.
Head of the NBU department for foreign exchange transactions and analysis of financial markets Serhiy Ponomarenko told reporters on Wednesday, a Ukrinform correspondent reports.
“The balanced exchange rate will be found when devaluation stops,” Ponomarenko said.
According to him, the Ukrainian market without NBU cannot find a rate that will meet those, wishing to sell the currency, and those, who want to buy it. “Very few bids from operators are on the market, the volume of foreign exchange market is very small, therefore, without the NBU, it is very difficult to get an objective picture,” the regulator’s representative said.
For this reason, he continued, the NBU will attend the market in the coming months.
Ponomarenko also noted that the national currency rate reflects the state of the economy and the overall situation in the country, “for which not only the National Bank is responsible.”