There will not be fixed hryvnia rate any more, get accustomed – NBU governor

Monday, November 10, 2014 - 11:28 (EET) Section: Latest news

Ukraine should get accustomed to the fact that it will not live with the fixed hryvnia rate any more.
NBU Governor Valeria Hontareva told in an interview to the TSN.Tyzhden.
“Our country will not live any more with the fixed rate. Unfortunately, it lived so for the whole its life,” she said. “This does not lead our country either to economic growth or stability of the financial system. We spoke about this as far back as in April, when signed a program with the IMF. Our country said that we will have a flexible rate formation now.”
She also said that the NBU looks for the “equilibrium level” as regards the hryvnia.
“Under today’s state of the market… the hryvnia should be at the level of 12.5-13 UAH/USD. The rate should not rise higher at all,” she noted.